(Yicai Global) July 8 -- Putailai New Energy Technology’s shares climbed by the daily trading limit to an all-time high after the Chinese battery materials supplier revealed a plan to invest CNY5.2 billion (USD802 million) in a new production base in China’s Guangdong province.

PTL [SHA:603659] closed 10 percent up at CNY171.47 (USD26.46) today. The stock has gained almost 190 percent over the past four months amid increasing demand for lithium batteries.

The Shanghai-based firm will spend CNY3.8 billion (USD586.3 million) to build a lithium battery separator plant with a capacity of 4 billion square meters per year, according to the announcement. The project is divided into two phases, each of which has a capacity of 2 billion square meters, to be completed by 2023 and 2026, respectively.

PTL will also build a lithium battery automated production equipment plant, the company said, without revealing any details about its capacity. Costing CNY1.4 billion (USD216 million), it should be finished before the end of 2023.

The new base is located in Zhaoqing, in the Guangdong-Hong Kong-Macao Greater Bay Area, where power battery consumers have clustered. The base will enable PTL to better serve customers in the area, it said.

PTL develops and makes anode materials, lithium-ion batteries, lithium battery separators and production equipments, according to its official website.

Editor: Futura Costaglione