Battery

The installed base of lithium iron phosphate batteries rose 235.5 percent in July, compared with a 67.5 percent increase for ternary batteries.

The batteries produced at the base will be power batteries as well as batteries for energy storage.

Chinese lithium battery maker Eve Energy plans to invest in a new 30GWh per year power battery project in Jingmen City, Hubei Province, the company said in an announcement  Wednesday.

Gotion's Shenzhen-traded shares were up at the 10 percent intraday limit, after rising about 70 percent in the past two months.

EV battery maker Gotion Hi-Tech and solar module maker JinkoSolar Holding Co recently signed a strategic cooperation agreement to tap the solar energy storage market.

The project, located in central China's Hubei province, is a 20 GWh capacity production site with an investment of RMB 5 billion in the first phase.

Chinese power battery maker Svolt Energy recently announced the completion of a Series B financing round totaling RMB 10.28 billion ($1.59 billion).

The total output value of the lithium-ion battery industry in the first half of the year exceeded RMB 240 billion ($37.1 billion), and total exports were RMB 74.3 billion, an increase of nearly 70 percent year-over-year.

Lithium carbonate prices are expected to reach RMB 180,000 ($27,733) per ton in the second half of the year, the previous record high, said analysts.

For comparison, China shipped 124,000 tons of LFP cathode materials in 2020, up 41 percent year-over-year, with market size of about RMB 4.5 billion.