SHANGHAI, Apr 28 (SMM) – Hunan Changyuan Lico, a subsidiary of the state-owned China Minmetals, on April 28 began the construction of an expansion project of cathode materials for electric vehicle lithium batteries.
Upon completion, the project will be able to produce 80,000 mt/year of ternary materials for power batteries. With an investment of 7 billion yuan, it highlights the research and development of NCM and NCA series products.
Hunan Changyuan Lico aims to become China’s leading producer of battery cathode materials with the expanded capacity in the pipeline.
It is understood that the project is among a total of 80 key projects in Hunan that kicked off on the morning of April 28 at Hunan Hi-Tech Development Zone.
Those projects are related to the industrial sector, municipal infrastructure and people's livelihood, involving an estimated investment of 38.8 billion yuan.