New LMFP cathode capacity of 100ktpa was announced in China
Source: Huocheng County News
December 17, 2023
In Huocheng County, Xinjiang Province, a signing ceremony was held with Shenzhen Yutuo New Energy Technology Group Co., Ltd. This event marked a construction project designed to produce 100,000 tons of LMFP cathode material annually is planned to be built.
With a total planned investment of 4 billion yuan (~US$556million), the project spans a construction area of approximately 150,000 square meters. Upon reaching full operational capacity, it is expected to generate an annual output value of around 15 billion yuan (~US$2.1billion) and contribute about 500 million yuan (~US$69million) in annual tax revenue. Moreover, the project is anticipated to create job opportunities for ~500 people.
Established in 2010, Yutuo New Energy Group is a nationally recognized high-tech enterprise specializing in consumer lithium-ion battery sector. With state-of-the-art production facilities spanning over 40,000 square meters, Yutuo employs a workforce of more than 600. It stands as a key lithium-ion battery supplier for over 50 multinational consumer electronics firms worldwide.