Stranagor
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(Yicai Global) Oct. 12 -- Chinese battery giant Contemporary Amperex Technology will spend up to CNY32 billion (USD5 billion) to build an industrial park in central China to expand its output in the booming new energy vehicle sector.
CATL unit Brunp Recycling Technology will construct the 3.7-square kilometer battery materials facility in Yichang in Hubei province, the Ningde-headquartered company said in a statement today. Brunp specializes in recovering resources from used batteries.
The industrial park will recycle used batteries and produce lithium iron phosphate, lithium cobaltate, graphite, and other battery materials. The construction period is expected to be six years.
Some of the chemical aspects of the park will be built in cooperation with Yihua Chemical Industry, a local chemical company in Yichang. Brunp will have a 65-percent stake in those ventures.
The world's largest battery supplier is continuously expanding its production capacity. Last August, CATL announced a private placement plan of CNY58.2 billion to be used for five projects. In September, the Tesla supplier said it will invest up to CNY13.5 billion to build a new lithium battery plant in Yichun, Jiangxi province.
From January to August, CATL's installed capacity reached 49.1 gigawatts, more than tripling from a year ago, while ranking No. 1 among global battery suppliers with a 30.3 percent market share, according to market research firm SNE Research.
The announcement failed to excite investors. CATL’s stock price [SHE: 300750] closed down 3.1 percent at CNY505 (USD78.20), resulting in a market value of CNY1.24 trillion (USD192.1 billion).
CATL unit Brunp Recycling Technology will construct the 3.7-square kilometer battery materials facility in Yichang in Hubei province, the Ningde-headquartered company said in a statement today. Brunp specializes in recovering resources from used batteries.
The industrial park will recycle used batteries and produce lithium iron phosphate, lithium cobaltate, graphite, and other battery materials. The construction period is expected to be six years.
Some of the chemical aspects of the park will be built in cooperation with Yihua Chemical Industry, a local chemical company in Yichang. Brunp will have a 65-percent stake in those ventures.
The world's largest battery supplier is continuously expanding its production capacity. Last August, CATL announced a private placement plan of CNY58.2 billion to be used for five projects. In September, the Tesla supplier said it will invest up to CNY13.5 billion to build a new lithium battery plant in Yichun, Jiangxi province.
From January to August, CATL's installed capacity reached 49.1 gigawatts, more than tripling from a year ago, while ranking No. 1 among global battery suppliers with a 30.3 percent market share, according to market research firm SNE Research.
The announcement failed to excite investors. CATL’s stock price [SHE: 300750] closed down 3.1 percent at CNY505 (USD78.20), resulting in a market value of CNY1.24 trillion (USD192.1 billion).
