FLASH: Wanrun New Energy to establish a LFP project in the USA

On the evening of September 23rd, Wanrun New Energy issued a notice on its wholly-owned subsidiary's external investment. Its wholly-owned subsidiary, Wanrun New Materials has established Wanrun New Energy Technology (USA) Limited in Delaware, USA, and through Wanrun New Energy Technology (USA) Limited, has ultimately established Wrerest Technology LLC in South Carolina, USA.

It is reported that the project plans to construct 50,000 tonnes of LFP production capacity, and carry out construction in phases. Among them, the first phase plans to build a production capacity of 9,000 tonnes LFP per year. And it will gradually expand production capacity in a timely manner based on the development of this project and the demand of overseas markets in the later stage.

The overall planned construction period of the project is about 30 months, and it is planned to be fully put into operation by 2028. The total investment amount of the project is $167.6441 million US dollars (approximately Yuan 1.18 billion).

Edited by Cassie Li, lixiangying@mysteel.com