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Lithium Battery Sector Saw Limit Up again, with EVE Energy Rising over 18%
Nov 8, 2021 17:28CST
Source:SMM
Lithium battery stock market rose over 2.8% this morning. At the same time, the performance of lithium battery stocks is also particularly eye-popping. EVE Energy hit a record high of 134.05 yuan/share, up over 18% intraday.

SHANGHAI, Nov 8 (SMM) – Lithium battery stock market rose over 2.8% this morning. At the same time, the performance of lithium battery stocks is also particularly eye-popping. EVE Energy hit a record high of 134.05 yuan/share, up over 18% intraday.

Jiangsu Jiuwu Hi-Tech rose more than 10%, Shandong Shida Shenghua Chemical Group, Tianqi Lithium, Yongxing Special Materials Technology and Jiangsu Azure Corporation set off a wave of limit up of battery sector. 

The round of rebound may be related to the recent frequent expansion of lithium battery industry. CATL announced that it plans to invest no more than 15 billion yuan in new projects in Fujian and Guizhou. Specifically, CATL plans to invest 8 billion in the construction of a lithium-ion battery production base project in Xiamen, Fujian (Phase I); In addition, it plans to invest a total investment of no more than 7 billion in the construction of the first phase of the Motive Power and Energy Storage Battery Manufacturing Base in the Gui'an New District, Guizhou.

EVE Energy announced that the company’s subsidiaries have invested about 6.2 billion in the Jingmen High-tech Zone to establish 20GWh large cylindrical battery production lines and auxiliary facilities for passenger cars, and 16GWh square LFP battery production lines and auxiliary facilities.

The wholly-owned subsidiary Shenghua New Energy Technology (Dongying) of Shida Shenghua Chemical plans to invest a total of 1.6 billion yuan to build an electrolyte project of 300,000 mt/year. Shenghua New Energy, a 51%-owned subsidiary of the company, plans to invest 560 million yuan in the construction of a liquid lithium salt project of 100,000 mt/year.

 Zhejiang Huayou Cobalt and Xingfa Group will cooperate on the entire industrial chain of new energy lithium battery materials in Yichang, Hubei and invest in the integrated industry of phosphorous ore mining and dressing, phosphorous chemical industry, wet-process phosphoric acid, iron phosphate and LFP materials in order to build 500,000 mt/year iron phosphate, 500,000 mt/year LFP and related supporting projects.

LFP (motive power) prices have risen to 88,500 yuan/mt from 38,000 yuan/mt in early 2021, up 132.89%.

Lithium battery
EVE Energy

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