(Yicai Global) Feb. 8 -- Jiangxi Jiangte Motor Co.'s newly-commenced lithium carbonate project in Jiangxi province in southeastern China has now met its designed requirements after being in production for five months.
The company has taken an indirect stake of 99.99 percent in a new lithium carbonate technologically-innovated production line with an expected annual capacity of 5,000 tons run by Yichun Yinli New Energy Co. The production line went into operation in September. After finetuning and optimization, it has now reached its designed requirement, which is to provide power facilities for new energy vehicle makers, Jiangte Motor announced yesterday.
This development provides a solid technological prop for the construction and smooth start-up of the second-phase investment project, which is to extract lithium from lepidolite. It will also positively influence Jiangte Motor's performance, per the announcement.
Yichun Yinli New Energy Co. lies in Yichun, Jiangxi, an area with 31 percent of China's lithium reserves. Jiangte Motor holds a government license to process local lithium ore, per public information.