【SMM New Energy News】Zhengzhou to Hand Out RMB 560 Mln of Car-Purchase Subsidies

On August 18, its battery factory in Lansing, Michigan, US, covering 226 acres, officially commenced production. It is reported that LG Energy Solution's Lansing plant produces large-format batteries for energy storage systems (ESS) and electric vehicles. After full ramp-up, the plant’s annual capacity target exceeds 35 GWh. The plant produces LFP battery cells for ESS. These cells are integrated into complete systems by LG Energy Solution's US energy storage division, Vertech, for utility, grid-scale energy storage, and other commercial and industrial applications. LG Energy Solution's Lansing plant will also produce higher energy density nickel-cobalt-manganese (NMC) cells for Toyota. These cells will be used in battery electric vehicles such as the 2027 Toyota Highlander EV, which will be assembled at Toyota Motor Manufacturing Kentucky (TMMK) in Georgetown, Kentucky, thereby strengthening the automaker's US supply chain for next-generation models. Notably, with the commencement of the Lansing plant, LG Energy Solution now operates two plants in Michigan, located in Holland and Lansing, respectively. Since 2010, the company's total investment in Michigan has exceeded $5 billion. In addition to its manufacturing plants in Holland and Lansing, the company also has its North America regional headquarters and R&D center in Troy. By the end of 2026, LG Energy Solution's total headcount in Michigan will exceed 3,300, making the company one of the top 50 employers in the state. Additionally, from the perspective of its North American ESS deployment plan, LG Energy Solution plans to achieve over 50 GW in North America by the end of 2026

On the evening of August 19, Hunan Yuneng released its 2026 H1 report. The report shows that in H1 2026, the company achieved revenue of 34.877 billion yuan, up 142.92% YoY; net profit attributable to shareholders of the publicly listed firm reached 2.91 billion yuan, up 853.51% YoY, marking a sharp increase in performance. The company stated that during the reporting period, sales volume of phosphate cathode materials increased compared with the same period last year, while rising prices of key raw materials such as lithium carbonate pushed up product selling prices, leading to corresponding YoY revenue growth. In H1 2026, the company achieved phosphate cathode material sales of 667,200 mt, up 38.77% YoY; high-end product sales were approximately 416,700 mt, with their share of total sales rising to 62.46%; the share of sales from products used in the ESS sector increased to about 53%. During the reporting period, the company aggressively expanded into markets outside China, with phosphate cathode material exports reaching 18,000 mt, a leap forward compared with the same period last year. In terms of profitability, the gross margin for phosphate cathode materials during the reporting period was 14.81%, up 7.84 percentage points YoY. On the capacity front, as of the end of the reporting period, phosphate cathode material capacity was 704,000 mt, and the capacity utilization rate reached 95.92%.

On August 18, Dongfeng Liuzhou Motor and CATL officially signed a five-year strategic cooperation agreement in Ningde, marking a shift from a supply-demand relationship to a stage of eco-system co-building with entire industry chain synergy. The partnership aims to enhance Dongfeng Liuzhou Motor’s core competitiveness in the new energy commercial vehicle market and to promote the standardization of commercial vehicle batteries and business model innovation. The two parties will focus on full-scenario technology research and standard customization, covering all types of commercial vehicle applications including tractors, dump trucks, cargo trucks, special-purpose vehicles, and hydrogen fuel vehicles. They will accelerate the deployment of new materials, new systems, and cutting-edge technologies, and jointly develop technical specifications for commercial vehicle batteries. Meanwhile, both parties will drive business model innovation and closed-loop ecology, speed up the implementation of innovative services such as “battery banks” for commercial vehicles, and reduce end-users’ initial purchase costs and life cycle operational risks through vehicle-battery separation and asset-based operations. CATL stated that it will continue to leverage its leading product technologies, large-scale delivery capabilities, and full life cycle services to deepen all-round cooperation with Dongfeng Liuzhou Motor, and jointly promote high-quality and low-carbon development in the commercial vehicle industry.