SHANGHAI, Sep 1 (SMM) – The signing ceremony for the LFP project between Ningxiang High-tech Zone and Hunan Blossom Group was held on August 30. The investment of the project is 12 billion yuan, including 3 billion yuan for fixed assets. Also, the project involves an annual capacity of 200,000 mt LFP and 40 production lines.
LFP is in short supply and the market price stands at about 50,000-60,000 yuan/mt. In addition to fixed investment, it is necessary to raise two to three times the amount of cash for raw material procurement. This project has a comprehensive and in-depth cooperation with Central South University, making use of the scientific research results on lithium battery of the university and adopting leading preparation technology to produce high-performance LFP lithium battery cathode materials. The product market is mainly oriented to CATL, BYD and other excellent battery plants.