[Lithium Battery: New Ultra-Fast Charging Battery Industrialization Project To Be Launched In Zaozhuang, Shandong]

According to a report by the Yomiuri Shimbun on June 2, Japan’s Ministry of Economy, Trade and Industry will hold an expert meeting on the same day to discuss and announce a revised version of its “Battery Industry Strategy.” The new strategy is based on a detailed forecast that the global battery market will roughly double from 2025 to 2035, reaching JPY 46 trillion. Accordingly, the Japanese government has set a target to increase the global battery-related revenue of Japanese battery manufacturers to JPY 6 trillion, about three times the current level of less than JPY 2 trillion.

Samsung SDI is converting part of the production lines at StarPlus Energy, its U.S. electric vehicle battery joint venture plant, to produce lithium iron phosphate (LFP) batteries for energy storage systems (ESS). The conversion applies to part of the lines at StarPlus Energy Plant 1. Rather than adding a separate new production line, Samsung SDI is modifying existing high-nickel nickel-cobalt-aluminum (NCA) battery lines to accommodate LFP battery production.

On June 1, Wanrun New Energy issued an announcement stating that it plans to sign a supplementary agreement on asset repurchase with Hubei Shiyan Haoshuo New Energy Technology Co., Ltd. This agreement will adjust the repurchase period, amount, and payment method for assets related to its annual 100,000-ton battery cathode material project, aiming to optimize project financing costs through bank replacement financing. The asset delivery for this project was completed in May 2024. Based on a comprehensive evaluation conducted by Kunyuan Asset Appraisal Co., Ltd., the total value of the project's assets is approximately 1.076 billion yuan. As of now, Wanrun New Energy has paid 360 million yuan in repurchase investment, with an outstanding balance of approximately 716 million yuan.