FLASH: GCL Group expands production of LFP materials

On October 30, the Sichuan Meishan (Beijing) Central and State-Owned Enterprises Matchmaking Meeting was held in Beijing. During the event, 43 projects were signed, with a total contract value of Yuan 50.604 billion. Among them, there were 32 manufacturing projects, with a contract value of Yuan 38 billion.

Among these, GCL Group signed an agreement with the Renshou County People's Government for an annual production of 150,000 tonnes of lithium battery cathode materials. According to available information, on August 6, 2022, Sichuan GCL Lithium Battery Technology Co., Ltd. signed an agreement with the Renshou Economic Development Zone to invest Yuan 5 billion in building an annual production of 360,000 tonnes of LFP cathode materials. The project is divided into three phases.

The first phase, with a total investment of Yuan 1.7 billion, involves the construction of an annual production line of 120,000 tonnes of LFP cathode materials. This phase commenced in October 2022 and began production in July 2023.

According to the latest news, the second-phase project of 150,000 tonnes in Renshou is planned to start construction by the end of 2025. It is estimated that by 2026, GCL Lithium Battery's production capacity will exceed 400,000 tonnes.

Edited by Cassie Li, lixiangying@mysteel.com