By Gabby Chen
Chinese battery maker CATL announced that its subsidiary Brunp Recycling (邦普循环) would invest RMB23.8 billion ($3.51 billion) in an integrated new materials industrial recycling project in Foshan, southern China's Guangdong Province, reported JW Insights.
In a statement on January 29, the company said the project which will build a production base with a capacity of recycling 500,000 tons of waste battery materials. It aims to promote the development of CATL's lithium battery materials and recycling business and ensure the supply of raw materials.
The new project will further improve CATL's strategic layout in related areas, leveraging its advantage of location in the Greater Bay Area covering southern coastal Guangdong Province, Hongkong and Macao. It will reduce production costs and enhances its core competitiveness through synergy effect, according to CATL.
RELATED
-
Bosch receives construction permit for its $1 billion EV parts plant in eastern China's Suzhou
03-24 17:04 -
JW Insights: Chinese EV makers NIO, Li Auto, Xpeng and Leapmotor make heavy losses in 2022, but jump 110.6% in their R&D inputs
03-24 17:04 -
Leading Chinese ODM Wingtech expands server business in response to rising demands from data centers and edge computing
03-24 13:39
READ MOST
-
ijiweiTalk Ep 244: China Cracked Quantum Encryption? END GAME of password!
1.3w
03-14 13:56 -
China’s national semiconductor Big Fund injects $1.87 billion into the country’s top memory chipmaker YMTC with a stake in it
9205
03-02 21:33 -
ijiweiTalk Ep 239: Metaverse's huge business loss, where did the money go?
8403
02-27 11:16 -
Chinese Vice Premier Liu He calls for leveraging supportive policies and market forces in developing IC industry
7944
03-03 18:51 -
Self-driving pioneer Mobileye launches a test center in Shanghai’s Jiading
7854
03-17 17:30
