Ganfeng plans to set up a joint venture in Turkey and plans to invest US $500 million to build a lithium battery project with an annual production capacity of 5GWh in Turkey.。

China's Ganfeng Lithium, the world's largest lithium metal supplier, plans to set up a joint venture in Turkey and build a battery factory there。

Ganfeng Holding Subsidiary Ganfeng Lithium Energy and Turkish Company Yigit Aku Malzemeleri Nakliyat Turizm Insaat Sanayi ve Ticaret A.S.Signing a cooperation framework agreement to jointly expand its business in Turkey and globally, according to an announcement made by the Chinese company on the stock exchange today。

The two plan to set up a joint venture in Turkey, which announced that ns will invest $500 million to build a lithium battery project with an annual capacity of 5GWh in Turkey.。

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The project includes a lithium battery production line and a battery pack production line with a design capacity of 5GWh, said Gan Feng.。

Yigit Aku is a listed company on the Istanbul Stock Exchange in Turkey, founded in Ankara in 1976.。According to Ganfeng's announcement, the company is Turkey's largest manufacturer, exporter and recycler of lead-acid batteries.。

The company has four production sites, two battery R & D centers and the largest R & D team in Turkey, serving more than 500 partner customers in more than 100 countries in the global market.。

The joint venture plans to establish a research and development center focusing on solid-state batteries, high-power batteries, marine and aerospace batteries, according to the announcement.。

Ganfeng is one of the most complete manufacturers of lithium products in China, with a production capacity of more than 40 lithium compounds and lithium metal products, which are widely used in electric vehicles, aerospace, functional materials, medicine and other fields。

In addition to lithium producers, Ganfeng is also committed to developing power batteries。On December 10, 2021, the company released the first generation of solid-state batteries, namely solid-state and liquid lithium-ion hybrid batteries。

On May 19, 2023, Ganfeng Lithium said that the first generation of solid-state batteries had begun mass production, with an energy density of up to 260Wh / kg and an annual production capacity of 4GWh..