A100,000-ton lithium battery new material base was settled in Xuzhou at an inauguration ceremony held Monday afternoon.
This project is launched by the GCL Group and jointly invested by a number of other companies.
It will produce lithium battery cathode materials and lithium battery energy storage systems represented by lithium iron phosphate, which will turn out 100,000 tons per year upon its production. The yield will account for 15% of the global production.
Xuzhou is introducing and cultivating a number of leading enterprises in the field of lithium battery materials to form an industrial cluster with core competitiveness.
By 2025, China will turn out 7 million new energy vehicles, generating a 1.5-trillion- yuan market. High-end lithium battery materials are therefore expected to be further upgraded.