According to XTC New Energy on June 2, the groundbreaking ceremony for the Neomat CAM plant, a joint venture between XTC New Energy and Orano Group, was held in Dunkirk on May 29 (local time). This marks the official start of the project's full-scale construction.
The facility is the first industrial production base in France dedicated exclusively to cathode materials for electric vehicle batteries. A strategic partnership was established in 2023, and the final investment decision (FID) was completed in March 2026.
Neomat CAM is the first plant to be constructed under this cooperation. XTC New Energy holds a 51% controlling stake, while Orano holds 49%. The total investment in the plant is approximately €500 million, with a planned annual production capacity of 40,000 tonnes of EV cathode materials. It is scheduled to begin in 2028, at which time the plant will stably supply several major battery manufacturers across Europe.
Subsequent phases of the project will gradually roll out precursor (PCAM) production, strategic metal recycling, and other segments, aiming to establish an integrated, low-carbon circular industrial platform. The overall project is expected to require a total investment of €1.5 billion (approximately Yuan 11.819 billion) and will create 1,300 direct jobs. It will comprehensively enhance Europe's strategic autonomy in the production of key lithium battery materials and resource recycling.
Edited by Cassie Li, lixiangying@mysteel.com
