The long-term Lithium Department plans to build a project with an annual production capacity of 60, 000 tons of lithium iron phosphate cathode materials in Changsha.

Long-term Lithium Science (688779.SH) announced that Hunan long-term Lithium New Energy Co., Ltd. ("long-term New Energy"), a wholly owned subsidiary of the company, intends to invest in a project with an annual production capacity of 60, 000 tons of lithium iron phosphate cathode materials, with a total investment of about 2.088 billion yuan.

The project is located in the second phase of the long-term lithium battery cathode material expansion project in Changsha High-tech Development Zone. The technical design of the project is the process route of heat treatment and modification treatment after the precursor is mixed with lithium salt. Construction of the project is scheduled to begin in January 2022 and put into production in April 2023.

The announcement said that at present, the company has full orders, the production line continues to be in a state of full production and sales, and the company actively promotes capacity expansion, which is conducive to further enriching the capacity layout of the company's cathode materials and deepening strategic cooperation with downstream customers. enhance the company's market share and industry position.