Electric vehicle (EV) battery maker Contemporary Amperex Technology (CATL) has initiated construction on a RMB 32 billion ($5 billion) manufacturing facility in China’s central Hubei Province, reports Caixin. The production base, built by CATL’s subsidiary Guangdong Brunp Recycling Technology, will measure around 3.7 million square meters and have an annual output of 360,000 tons of iron phosphate and 220,000 tons of lithium iron phosphate, among other components of lithium-ion batteries.
“Once in full production, [the production base] can support the production of battery cathode materials for more than 4 million NEVs,” Fujian province-based CATL said in a statement.
For the first 10 months of 2021, China’s EV battery output increased by 250% from a year earlier to 159.8 gigawatt-hours (GWh), with installed volumes up by 168% to 107.5 GWh, according to the latest data provided by the China Automotive Power Battery Industry Innovation Alliance. CATL accounted for 50.7% of installed volumes with 54.48 GWh in the period, followed by BYD and China Lithium Battery Technology with 16.6% and 6% respectively, the data showed.