On the evening of February 9, MGL announced plans to invest Yuan 929 million in constructing a lithium-ion battery cathode material project with an annual production capacity of 30,000 tonnes. The investment will be funded through the company's own capital and self-raised funds. The project will be located at No. 9 Road, Jiuyuan Industrial Park, Baodi District, Tianjin.
According to the announcement, the project will involve the construction of four new lithium-ion battery cathode material production lines, with a total annual capacity of 30,000 tonnes. The first phase will include two new cathode material production lines with a combined annual capacity of 15,000 tonnes, comprising one NCA material production line (annual capacity of 10,000 tonnes) and one high-voltage lithium cobalt oxide production line (annual capacity of 5,000 tonnes). The second phase will involve the construction of two ultra-high-nickel ternary material production lines, with a total annual capacity of 15,000 tonnes.
Edited by Cassie Li, lixiangying@mysteel.com
