Tesla CEO Elon Musk: Lithium Mining and Refining Appear to Be Limiting Factor for Electric Vehicle Growth

On September 23, Hunan Yuneng announced that its board of directors approved a resolution agreeing to raise the construction scale of the Spain project to an annual output of 70,000 tonnes of lithium battery cathode materials, adjust the total investment to approximately RMB1.65 billion equivalent, and authorize management to handle various specific matters related to the adjustment of the project investment scale.

On September 27, Enjie announced that its controlling subsidiary Shanghai Enjie signed an equity transfer agreement with EVE Energy for Hubei Enjie New Material Technology Co., Ltd., and plans to use its own and self-raised funds of RMB1.15 billion to acquire the 45% equity interest held by EVE Energy in Hubei Enjie. After the transaction is completed, Shanghai Enjie will hold 100% equity in Hubei Enjie.

On September 27, Jinyinhé announced that it plans to issue shares to specific targets to raise no more than RMB1.5 billion. After deducting issuance expenses, the proceeds will be used for high-end intelligent equipment industrialization projects for sodium-ion batteries, consumer lithium batteries, solid-liquid batteries, and new-type energy storage batteries; the R&D and construction project for high-end intelligent equipment for dry electrode and solid-state batteries; the silicon-based materials and polymer materials construction project (Phase I); the R&D and construction project for high-end intelligent equipment for silicone supercritical physical foaming and vacuum thermal reduction of rubidium and cesium metals; and to replenish working capital.