SK On, BYD, Wanhua Chemical, and Gotion High-Tech Advance Energy Storage Projects
SK On has initiated a 3GWh energy storage system production line for lithium iron phosphate (LFP) batteries in South Korea, contributing to a national capacity goal of 138GWh by 2038. Meanwhile, Wanhua Chemical plans a RMB 2.51 billion investment for a Phase II project to produce 200,000 tons of LFP annually, and BYD has launched new phases of its battery production base in Zhejiang with an investment of RMB 11 billion aimed at achieving 30GWh capacity. Additionally, Gotion High-Tech is developing projects for cathode and silicon-carbon anode materials, while Xinfa Group's subsidiary has begun trial operations for an LFP production line for BYD.
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SK On has launched a project in South Korea to establish a 3GWh energy storage system production line for lithium iron phosphate (LFP) batteries, supporting a national goal of 138GWh capacity by 2038. Wanhua Chemical has disclosed plans for a Phase II project at its Green Power Industrial Park, investing RMB 2.51 billion to produce 200,000 tons of LFP annually.
BYD's new energy power battery production base in Shengzhou, Zhejiang Province, has commenced operations for Phases II and III, with investments totaling RMB 11 billion, targeting 30GWh in production capacity. Gotion High-Tech has broken ground on projects for 200,000 tons of cathode materials and 20,000 tons of silicon-carbon anode materials in Anhui Province. Xinfa Group's subsidiary has initiated trial operations for a customized LFP production line for BYD, which will process up to 80,000 tons of LFP products under a toll processing agreement.
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