On August 16, Ganfeng Lithium announced that its controlling subsidiary, Ganfeng Lithium Battery, had signed a cooperation framework agreement with Turkey's YIGIT AKU company to jointly expand their business in Turkey and globally.
YIGIT AKU, established in 1976, is a publicly traded company in Turkey and the country's largest lead-acid battery manufacturer, exporter, and recycler, with four production facilities, two R&D centers, and a customer base of 500.
According to the agreement, the two parties plan to establish a joint venture in Turkey, investing $500 million to build a lithium battery project with an annual production capacity of 5GWh. This includes lithium battery and battery pack production lines. The joint venture also plans to set up an R&D center focused on developing advanced lithium battery technologies such as solid-state batteries, high-power batteries, and batteries for marine and aerospace applications, as well as on new technology development, research projects, and intellectual property applications.
Ganfeng Lithium stated that this collaboration will help the company enhance its industrial chain layout, improve core competitiveness and profitability, and is in line with the company’s integrated strategy. The impact on future performance will depend on the signing and implementation of subsequent specific project agreements.
In the upstream lithium mining sector, on the same day, Ganfeng Lithium also announced that its wholly-owned subsidiary, GFL International Co., Limited ("Ganfeng International"), had used $70 million of its own funds to acquire a 14.8% stake in Argentina's Proyecto Pastos Grandes S.A. ("PGCO") and completed the transfer of this equity, registering the shares under Ganfeng International’s wholly-owned subsidiary.
In terms of battery production capacity, to date, Ganfeng Lithium Battery has launched battery projects in Ningbo, Suzhou, Xinyu, Fuling, Dongguan, Hohhot, and Xiangyang, with a total planned capacity of 144GWh for power and energy storage batteries, including semi-solid-state cells.
Regarding solid-state batteries, Ganfeng Lithium has built a production line with an annual capacity of 2GWh for solid-liquid hybrid batteries. Located in the Liangjiang New Area, Ganfeng's new lithium battery technology industrial park has delivered over 1,000 solid-state batteries, with a fixed investment exceeding 5 billion yuan and a planned capacity of 20GWh, expected to become the largest solid-state battery production base in China.
In terms of products, Ganfeng Lithium launched the super semi-solid "Xinfeng" battery in 2023, characterized by high safety, high performance, and high efficiency, suitable for all levels of pure electric vehicles. The company has completed small-scale trial vehicle installations of semi-solid-state batteries and is discussing broader vehicle installation plans with downstream customers.
In April this year, Ganfeng Lithium revealed that its first-generation solid-state battery had achieved mass production, with an energy density of 240-270Wh/kg, over 2,000 cycles, and passed safety tests. The company is developing a second-generation solid-state battery, expected to have an energy density exceeding 400Wh/kg while maintaining safety and providing high-power discharge capabilities of over 5C.
In terms of project collaboration, at the end of December last year, Changan Automobile and Ganfeng Lithium announced a partnership to jointly advance solid-state battery technology. Changan Automobile, leveraging its extensive experience in automobile manufacturing, and Ganfeng Lithium, with its expertise in semi-solid-state battery research and production, will accelerate the development and application of new energy vehicle battery technologies, enhancing the competitiveness and market appeal of the models.
Source：DT New Materials