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The Lithium Battery Businesses Today: Yongtai Tech Investing 150 Million Yuan in Lithium Battery Businesses
Aug 16, 2021 14:00CST
This is a roundup of key events happened in the lithium battery sector today.

SHANGHAI, Aug 16 (SMM) - Recently, Longbay Group (2326) announced in a statement that it intends to invest in multiple projects that covers the annual capacity of 200,000 mt of battery material grade iron phosphate, 200,000 mt of lithium-ion battery materials, and 100,000 mt of artificial graphite anode materials for lithium-ion batteries. The company said it will use titanium dioxide by-products such as ferrous sulphate to produce high value-added iron phosphate materials. Iron phosphate can be used as precursor for lithium iron phosphate cathode materials. In addition to the Longbai Group, other major participants including Annada Titanium (2136), CNNC HUA YUAN Titanium Dioxide (2145) are also actively positioning themselves in the "new energy" field.

Salt Lake Group (0792) said on the social media that the company has no substantial cooperation scheme with CATL (300750). The company’s subsidy Lanke Lithium currently has an existing capacity of 10,000 mt of industrial grade lithium carbonate, and will add another 20,000 mt of battery grade lithium carbonate unit which is under construction. In addition, the company is also planning to cooperation with BYD to jointly develop a project with 30,000 mt of battery-grade lithium carbonate.

Yan'an Bicon (2411) announced on August 13 that its holding subsidiary, Jiujiujiu Technology, signed a Long-term Strategic Cooperation Agreement with Enchem in South Korea. The two parties negotiated the supply of lithium hexafluorophosphate products, and Jiujiujiu Technology will supply to the latter with an amount no lower than 432 mt from July 2021 to December 2022, no less than 1,200 mt in 2023, no less than 4,800 mt from January 2024 to December 2025.

Yongtai Technology (2326) announced that the company intends to acquire 15% equity interest in Yongtai High-Tech held by Yongjing Technology for 150 million yuan. After that, Yongtai Technology’s shareholding in Yongtai High-Tech will rise to 75%. Yongtai Technology said that lithium batteries and other materials are one of the company's key business focuses, and the acquisition will facilitate further improvement in the company's industrial deployment.

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