Ganfeng to Invest $500 Million in Turkish Lithium Battery Project

Ganfeng, a leading global supplier of lithium metal, is establishing a joint venture in Turkey with an investment plan of approximately $500 million for a lithium battery project. The Chinese company's subsidiary, Ganfeng LiEnergy, has signed an agreement with Turkish firm Yigit Aku Malzemeleri Nakliyat Turizm Insaat Sanayi ve Ticaret A.S., according to recent reports quoting Ganfeng's stock exchange announcement.

The joint venture will include the creation of two key facilities: a lithium battery cell production line and a battery pack production line. Additionally, the project will establish R&D centers focused on developing new technologies in solid-state batteries, high-power batteries, and batteries for marine and aerospace applications.

Yigit Aku, the largest manufacturer and recycler of lead-acid batteries in Turkey, operates four production sites and two battery R&D centers, serving over 500 partners in more than 100 countries worldwide.

Details regarding the location of the Turkish battery project are yet to be disclosed. As Turkey's battery manufacturing ecosystem expands, driven by the growing domestic market for electric vehicles, the country is becoming a significant player in the Middle East region's battery industry.

Ganfeng, beyond supplying lithium compounds and metal products, is advancing its power battery production capabilities. Last year, the company began mass production of its first-generation solid-state battery, with an energy density of 260 Wh/kg, at a facility in China with an annual capacity of 4 GWh.

Source: Emerging Technology News