[Lithium Battery: BAIC Group And CATL Sign Strategic Cooperation Agreement]

Recently, the People's Government of Daying County released a public notice for the environmental impact assessment approval application for the annual 50,000-ton iron phosphate project of Sichuan Qianyuan Electronic Materials Co., Ltd. The project is located at No. 222, Pengyan Avenue, Penglai Town, Daying County, Suining City, Sichuan Province, and is classified as an expansion and renovation project. The company currently has an existing annual 30,000-ton battery-grade iron phosphate project with complete relevant approvals and a stable operating status. This expansion will utilize the company's reserved land within the existing plant site to construct new production workshops, warehousing, a boiler room, and other supporting facilities, while also renovating existing workshops. Upon completion, the company's total annual iron phosphate production capacity will reach 80,000 tons.

On June 11, Lithium Ionic announced that it has placed the first long-lead equipment order for its Bandeira lithium project, located in the Lithium Valley region of Minas Gerais, Brazil. The order covers a 138/13.8 kV main power transformer for the project’s internal substation. The equipment will be supplied by Brazilian manufacturer Blutrafos. According to the company, the transformer is a critical-path item that must be secured in advance of construction. The order marks the formal commencement of long-lead equipment procurement and indicates that the Bandeira project is gradually progressing from the engineering phase toward construction readiness. Lithium Ionic stated that overall engineering progress at Bandeira has reached approximately 65%. To support detailed engineering and construction planning, the company has completed 1,352 metres of geotechnical drilling across the project area. The capital expenditure estimate is also being updated based on the latest engineering work, while additional long-lead equipment packages are expected to move forward through tendering and procurement. The Bandeira project is 100% owned by Lithium Ionic and is located in Minas Gerais, one of Brazil’s key lithium-producing regions.

Recently, the first cell rolled off the production line at the battery factory of Times BAIC (Beijing) New Energy Technology Co., Ltd., marking the start of the mass production phase. Times BAIC was jointly invested in and constructed by CATL, BAIC Group, Beijing Energy Group, and Xiaomi Group. Currently, construction of the factory is nearing completion, with equipment for the second production line undergoing commissioning. Full-scale production is expected to commence in August. For the entire year of 2026, the factory is projected to produce 7.5 GWh of cells. Once the project reaches full capacity, it will form an annual power battery production capacity of 15 GWh, significantly enhancing the product strength and cost advantages for Beijing-Tianjin-Hebei vehicle manufacturers such as BAIC and Xiaomi.