(Yicai Global) April 4 -- Putailai New Energy Technology, a Chinese supplier of lithium battery anode and diaphragm materials, said it plans to invest CNY2 billion (USD290 billion) to build a lithium battery materials plant.

The new factory, to be built in China’s eastern Jiangsu province, will make lithium battery composite current collector products and have an annual production capacity of 16,000 tons, the Shanghai-based company said in a statement late yesterday. It is expected to be put into operation within six to 12 months, the firm added.

Compared with traditional battery current collectors that use copper and aluminum foils, the products manufactured at the new plant will be made after metal films are plated on polymer material films, Putailai noted. The sandwich-like structure -- metal conductive layer to polymer material support layer to metal conductive layer -- will make batteries lighter, safer, and longer lasting.

Putailai’s self-developed solution for composite current collector production has already gained recognition from leading Chinese battery clients, the company said in relation to the market prospects for the new product.

This project will give full play to Putailai’s competitive advantages in process technologies, self-developed equipment, and customer channels, as well as help it take the industry lead to complete the development, certification, marketing, and production line building of composite current collector products.

Putailai’s shares [SHA: 603659] fell 1.3 percent to close at CNY49.10 (USD7.13) each today.

Editor: Futura Costaglione