SHANGHAI, Jul 5 (SMM) — This is a roundup of news in the lithium battery industry for today.

Fulin Precision: The subsidiary plans to invest 4 billion yuan to build a 250,000-mt lithium iron phosphate cathode material project

Fulin Precision announced that its subsidiary, Jiangxi Shenghua, plans to invest in the construction of a 250,000-mt lithium iron phosphate cathode material project with an estimated total investment of 4 billion yuan. Among them, for the first phase of the lithium iron phosphate cathode material project with an annual output of 60,000 mt, the subsidiary Jiangxi Shenghua has signed a "strategic cooperation agreement" with Sichuan Lvran Technology and the Sichuan Shehong Economic Development Zone Management Committee, with an estimated investment of RMB 1.06 billion yuan.

Guoxuan Hi-Tech subsidiary plans to build a 20GWh power battery production base in Hefei Xinzhan High-tech Zone

Hefei Guoxuan Hi-Tech Power Energy Co., Ltd. (Hefei Guoxuan), a wholly-owned subsidiary of Guoxuan Hi-Tech, officially signed a cooperation agreement with the Management Committee of Hefei Xinzhan High-tech Industrial Development Zone on the morning of July 20. The district builds a 20GWh power battery production base, which will focus on the production and manufacture of Volkswagen standard batteries, which means that Volkswagen's world's first standard batteries are expected to be “made in Hefei”

Tiantie shares: The subsidiary plans to invest 1 billion yuan in lithium salt and other projects

Tiantie announced that its wholly-owned subsidiary, Changjili New Energy, intends to invest in the construction of a lithium salt series and its supporting products with an annual output of 50,000 mt in the Longqiao Chemical Park in Lujiang High-tech Zone. The total investment of the project is about 1 billion yuan, forming an annual output of 30,000 mt of anhydrous lithium chloride, 10,000 mt of battery-grade lithium carbonate, and 10,000 mt of battery-grade lithium hydroxide, achieving an annual output value of about 5 billion yuan.

Jiangsu Azure: Industry classification changed to "Electrical Machinery and Equipment Manufacturing (Code C38)"

Azure Lithium announced that the company's main business is lithium batteries, LED chips and metal logistics. The company completed the change of the actual controller and company name in 2020, and the securities abbreviation was changed to reflect the focus of business to the lithium battery business. The company's industry classification has been changed to electrical machinery and equipment manufacturing (industry code C38).

Bank of America: Global electric vehicle battery supply may be out of supply as early as 2025

The Bank of America research report stated that the global electric vehicle industry faces an imminent threat, and its battery supply may be exhausted as early as 2025. As the penetration rate of electric vehicles in all markets continues to rise, the global battery shortage will further intensify between 2026 and 2030, reflecting the “increasing optimism” of the electric vehicle industry's prospects. Bank of America predicts that the global penetration rate of all new energy vehicles, including pure electric vehicles and plug-in hybrid vehicles, will reach 23%, 40%, and 67% respectively by 2025, 2030, and 2040.

The Biden team believes that the supply of chips will increase

Biden administration officials said they are beginning to see signs of easing the global semiconductor supply shortage, including semiconductor manufacturers' promises to produce more automotive chips for auto companies that have to idle production. US Secretary of Commerce Raimondo facilitated a series of meetings between semiconductor manufacturers, suppliers, and customers, including automakers. Raimondo said that the results of the meeting have made manufacturers' production and delivery more transparent, and the supply of automakers has gradually increased.