China Lithium Battery Technology (CALB) has started building the thrid phase of an LFP lithium battery factory with manufacturing capacity of 40GWh and supporting assembly lines for battery modules and battery packs.
For the first stage, CALB plans to invest 5 billion yuan ($786.275 million) in 10GWh manufacturing facilities. The first phase will output a yearly production value of 8 billion yuan ($1.258 billion). The first stage is scheduled to be operational in the first quarter of 2023.
Phase 1 started at the end of 2020. March 2, 2021, was ground-breaking for the second phase. Phase 2 will have a production capacity of 10GWh per year.
CALB has raised annual power battery production capacity to 500GWh for 2025 and 1TWh by 2030.
For the first eleven months of 2021, CALB installed power battery capacity of 7.5GWh. This was up 171.7% from 2020 and represented a 5.8% share in Chinese power battery market. CALB recorded an annual power battery installed capacity of 9.05GWh for all of 2021. They installed 1.55 GWh in December 2021. In China, CALB is third in batteries. They are behind CATL and BYD.
SOURCES- CALB, Gasgoo
Written by Brian Wang, Nextbigfuture.com
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.
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