...that is how China corners the EV market. BYD produces EV, has its own EV battery capacity and prowess and access to critical minerals via its owned lithium mines. And with China commanding both the demand and supply of EVs, Chinese demand for lithium represents the market landscape today and with most of these demand being met via China owned lithium mines, it is not translating into higher prices for lithium in the spot market.
...and this is where most underestimate the power of vertical integration on the lithium price. Until Western appetite for EVs (including its legacy auto makers) returns, lithium price would continue to stay in winter hibernation lower for longer. Ganfeng Lithium has announced mass production of solid-state batteries
Business & Technology China’s largest lithium mining company has transformed itself into a battery manufacturer, and is now the very first company to announce mass production of revolutionary solid-state batteries. Barry van Wyk Published May 23, 2023
Over the last couple of years, Ganfeng Lithium was one of the companies leading a new trend of vertical integration in China’s lithium battery industry, in which electric battery companies are investing in raw materials, and raw material companies are producing batteries. As a raw material producer that transformed itself into a battery manufacturer, Ganfeng Lithium started construction of a 5.4 billion yuan ($758.61 million) solid-state battery production base in Chongqing in July 2022. At the same time, Ganfeng Lithium is continuing apace with lithium mining: In September 2022, the company announced a framework agreement with the city of Yichun, Jiangxi Province, for the construction of a new lithium battery manufacturing base with an annual output of 30 GWh.
Ganfeng Lithium wants to build batteries in Turkey Chinese lithium producer Ganfeng Lithium has signed an agreement with Turkish battery manufacturer Yiğit Akü to establish a $500 million joint venture. The goal is the production of lithium batteries.
By Carla Westerheide
19.08.2024 - 12:05
Raw materials producer Ganfeng Lithium is thus investing in a downstream link of its value chain, as the Chinese group will build batteries using its lithium in Turkey in future. According to a stock exchange announcement, the companies want to construct a battery factory in Turkey with an annual production capacity of 5 GWh.
The project will focus on the development and production of current and future lithium battery technologies. An official Ganfeng announcement cited by international media mentions batteries for marine and aviation applications, among others.
According to the Reuters news agency, Yiğit Akü primarily manufactures lead-acid batteries. On its website, however, the company also advertises its lithium batteries for use in smaller industrial or leisure vehicles such as forklift trucks or golf carts. Yiğit Akü was founded in 1976 and is listed on the Istanbul Stock Exchange. The company’s production network includes four factory locations.
