Guotai Int’l to Build USD240 Million Battery Electrolyte Plant in China’s Zhejiang
Tang Shihua
DATE:  Jan 28 2022
/ SOURCE:  Yicai
Guotai Int’l to Build USD240 Million Battery Electrolyte Plant in China’s Zhejiang Guotai Int’l to Build USD240 Million Battery Electrolyte Plant in China’s Zhejiang

(Yicai Global) Jan. 28 -- Guotai International Group said it will invest CNY1.5 billion (USD240 million) to build a lithium battery electrolyte plant. It is the third time in a month and a half that the company, one of China’s top three suppliers of the battery component, has unveiled a plan to boost capacity.

The new plant will have an annual capacity of 300,000 tons of electrolytes for lithium batteries and will be built in Quzhou, in southeastern Zhejiang province, in 24 months, the Jiangsu province-based company said in a statement late yesterday.

On Dec. 13, Guotai International announced two plans to lift annual capacity by 660,000 tons with total investment of about CNY2.7 billion. One was a new USD184 million plant in Poland.

Guotai’s jumbo plans are a response to surging demand for electric vehicles last year. Several other suppliers of battery raw materials also announced expansions in 2020. As of last May, Guotai’s lithium battery electrolyte capacity was just 70,000 tons, a senior executive said.

Shares of Guotai International [SHE: 002091] came off 0.4 percent to close at CNY11.32 (USD1.78) apiece, after opening 1.9 percent higher this morning. The stock has lost 17.6 percent since the start of the year.

Editor: Futura Costaglione

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Keywords:   Capacity Expansion,Battery Electrolyte,Power Battery,Jiangsu Guotai