On October 19, Hunan Yuneng announced that its board of directors had deliberated and approved a proposal to invest in the construction of the Hunan Yuneng Phase VI lithium iron phosphate (LFP) project. The project plans an investment of no more than Yuan 2 billion, with funding to be self-raised by the company. The construction period is 12 months, mainly covering the construction of plant buildings and supporting facilities and the purchase of complete sets of LFP production line equipment. The investment is intended to improve the company's LFP production capacity layout and meet market demand from downstream sectors such as electirc vehicles and energy storage.
Edited by Cassie Li, lixiangying@mysteel.com
