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Indonesia builds factory | LBM will become the first Chinese lithium iron phosphate enterprise to go overseas

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  • Time of issue:2021-11-09 17:27
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(Summary description)On the evening of November 8th, the listed company Longpan Technology (603906) announced that its holding subsidiary Changzhou Liyuan New Energy Technology Co., Ltd.

Indonesia builds factory | LBM will become the first Chinese lithium iron phosphate enterprise to go overseas

(Summary description)On the evening of November 8th, the listed company Longpan Technology (603906) announced that its holding subsidiary Changzhou Liyuan New Energy Technology Co., Ltd.

  • Categories:News
  • Author:
  • Origin:
  • Time of issue:2021-11-09 17:27
  • Views:
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On the evening of November 8th, the listed company Longpan Technology (603906) announced that its holding subsidiary Changzhou Liyuan New Energy Technology Co., Ltd. will invest and set up a joint venture company in Indonesia with investment institution STELLAR INVESTMENT PTE. LTD. Invested in the development and construction of a cathode material project with an annual output of 100,000 tons of lithium iron phosphate in Morowali Industrial Park (IMIP), Morowali County, Central Sulawesi. The total investment of the project is about 235 million US dollars, and LBM holds 70% of the equity of the joint venture. At the moment when the lithium iron phosphate industry is in full swing, LBM will also become the first Chinese lithium iron phosphate manufacturer to go abroad and enter the overseas market.

Since this year, the global new energy vehicle market has continued to grow rapidly. Global EV registrations nearly doubled (98%) year-on-year in September to a record 685,881 units, a 16% increase from the sales record set in June. That month, the global electric vehicle market share was 10.2%, a record high. In the first three quarters of this year, the cumulative global electric vehicle registration has exceeded 4.3 million, and given that sales are usually stronger in the end-of-year months, global electric vehicle sales are expected to reach 6 to 7 million for the full year. In the European market, the home base of traditional fuel vehicles, in September, Tesla Model 3 won the championship with 24,591 units, beating out many traditional best-selling fuel vehicles, marking the unstoppable rise of new energy vehicles around the world.

With the rapid growth of the new energy vehicle market, the lithium iron phosphate industry, which is the upstream of new energy vehicles, has also made great strides this year. The cost of lithium iron phosphate batteries is relatively low, the safety is high, and the battery life is almost the same as that of ternary lithium batteries. Because of the many advantages, many leading new energy car companies, including Tesla and Weilai, have announced that they will use lithium iron phosphate batteries in more models. At the same time, the rapid increase in the scale of electrochemical energy storage equipment will become a new growth point for future demand for lithium iron phosphate. It is estimated that by 2025, the global installed capacity of lithium iron phosphate is expected to reach 912Gwh, and the compound annual growth rate of lithium iron phosphate demand from 2021 to 2025 is expected to be as high as 75%.

LBM, as one of the leading lithium iron phosphate suppliers in China, has announced a number of expansion plans since the beginning of this year. At present, LBM has three intelligent production bases in Tianjin, Changzhou and Suining, Sichuan (under construction). The new lithium iron phosphate production capacity will exceed 200,000 tons next year, and it has carried out in-depth cooperation with well-known enterprises such as Ningde Times and Xinyangfeng at the capital level. . The announcement of the Indonesian plant construction plan this time shows that with the increasing popularity of the global new energy vehicle market, battery material manufacturers located upstream of OEMs have also begun to turn their attention to the global market.

At present, Indonesia has become a hot investment country for global battery companies. The Indonesian battery factory of CATL is expected to be put into operation in 2024. The Indonesian battery factory of South Korea's LG Chem and Hyundai Motor will start construction this year. Germany's Volkswagen and BASF will also invest in Indonesia's electric vehicle industry. From the perspective of Longpan's development history, this company has always attached more importance to the expansion of overseas markets. Data shows: Longpan Technology is the first domestic automotive urea enterprise to export its products overseas, and the first private lubricant company to establish a branch overseas (Singapore Longpan). This time, Longpan Technology announced to build a lithium iron phosphate factory in Indonesia, marking that Longpan has once again started the production and sales layout in overseas markets after successfully entering the lithium iron phosphate industry. In the future, we will see more of Longpan, a Chinese supplier, on the stage of the global new energy vehicle industry.

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