Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

China’s Tsingshan plans to build a new lithium battery manufacturing plant in Foshan city, Guangdong province, with an expected annual production capacity of 30 gigawatts. The unit is scheduled to be completed in 2024.


The stainless steel maker and nickel producer noted that the construction will take place in phases, according to media reports citing a statement from Tsingshan. In the first phase, the company plans to increase its battery-making capacity from six gigawatts to 15 gigawatts per year by 2023. Tsingshan expects the next construction phase to begin in 2022, which will be completed two years later.


Tsingshan plans to invest CNY10.3bn ($1.57bn) in this project and its battery-making unit RERT Energy will operate the new plant.

The company reiterated that this project aims to meet China’s domestic demand for lithium-ion batteries and contribute to the country’s ‘green’ initiative to discover new energies. 



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