SHANGHAI, Nov 5 (SMM)—Batian Ecotypic Engineering intends to invest 100 million yuan to invest in its wholly-owned subsidiary Batian New Energy Materials in an effort to engage in the production of iron phosphate and related supporting engineering business.
According to announcement, the rapid penetration of NEVs has boosted the demand for new energy batteries. LFP batteries have become one of the mainstream choices of lithium batteries amid obvious advantages in terms of cycle life, safety, and cost. The company has obtained the mining right of the Xiaogaozhai Phosphate Mine in Weng'an County, Guizhou Province in May 2020, which is currently establishing the mine. The company plans to extend its product lines to downstream producers in order to meet future market needs.
With its unique advantages, Batian New Energy will produce iron phosphate and related by-products. According to previous data, the installed capacity of ternary batteries was 6.14GWh in September, and the total installed capacity of LFP batteries was 9.54Wh, which has exceeded ternary battery for three consecutive months. LFP batteries with lower cost and higher safety are replacing ternary batteries and will become the mainstream of motive power batteries in the future.
