Bangsheng has an annual output of 200000 tons of lithium iron phosphate project with a total investment of 12 billion yuan in Ningxiang High-tech Zone.

On September 16, a ceremony for the concentrated construction of major projects was held in Ningxiang City, Hunan Province. This time, a total of 12 projects are located in Ningxiang High-tech Zone, with a total investment of 18.02 billion yuan and a total land area of 1620 mu. All of them have been completed and put into operation, with an estimated annual output value of 21 billion yuan and a tax revenue of 700 million yuan. The newly started projects include advanced energy storage and equipment manufacturing projects such as Bangsheng's annual output of 200000 tons of lithium iron phosphate, Bang Pu cycle, China Science and Technology Star City Graphite, Guotian Marine Intelligent equipment, Mengde Technology and other advanced energy storage projects.

Huang Tao, deputy secretary of the Ningxiang Municipal CPC Committee and acting mayor, said that the industrial chain of advanced energy storage materials has become one of the six dominant industrial chains in Ningxiang, which has been developing and growing in recent years, and has formed a complete closed loop of the industrial chain, and the agglomeration effect of the new energy industry has become increasingly prominent. it has achieved industry leadership and domestic first-class in many fields. This time, we will focus on five energy storage materials projects, including the Bangsheng lithium iron phosphate project with an annual output of 200000 tons. After completion, Ningxiang and Fujian Ningde will become the two major energy storage material production centers in China. Ningxiang has the confidence to build the energy storage materials industry chain into a national superior industrial cluster within three to five years.

It is reported that Bangsheng Group's annual output of 200000 tons of lithium iron phosphate project landed in Ningxiang High-tech Zone, with a total investment of 12 billion yuan and a land of 600mu, will build a lithium battery material production headquarters base and a technology research and development center. The project plans to lay out 40 production lines, mainly producing high-quality lithium iron phosphate. The technology comes from the professor team of Central South University. The market is for Ningde Times and other top domestic battery enterprises, with an estimated annual output value of about 10 billion yuan and annual tax payment of more than 300 million yuan.

According to data released by the China Automotive Power Battery Industry Innovation Alliance, from January to August, the number of power batteries installed in China totaled 76.3 GWH, an increase of 176.3 percent over the same period last year. Among them, the total loading of ternary batteries was 40.9 GWh, accounting for 53.6 percent of the total, up 111.2 percent over the same period last year; lithium iron phosphate batteries were 35.2 GWhs, accounting for 46.2 percent of the total, up 338.6 percent over the same period last year.

Lithium iron phosphate battery loading increased rapidly, driving up the market price of lithium iron phosphate. According to the spot quotation data of SMM, as of September 17, the average price of domestic power lithium iron phosphate is 66000 yuan / ton, and lithium iron phosphate is expected to rise steadily in the short term.