New lithium iron phosphate project to start production by June

A lithium iron phosphate project with an annual output of 50,000 metric tons has been built in Kaiyang county in Guiyang, the capital city of Southwest China's Guizhou province. [Photo/kaiyang.gov.cn]

A lithium iron phosphate project with an annual output of 50,000 metric tons will be put into production by the end of this year.

The project is located in Kaiyang county in Guiyang, capital city of Southwest China's Guizhou province.

It is funded by Guizhou Kaiyang Anda Technology Co with an investment of 700 million yuan ($105.03 million)

The company is mainly engaged in the research and development, production and sale of lithium iron phosphate and its precursor iron phosphate as a cathode material for automotive power lithium batteries.

Inside view of the lithium iron phosphate project that will officially start production by the end of this month. [Photo/kaiyang.gov.cn]

It is currently the main supplier of BYD, CATL, AVIC Lithium Battery and other companies, and its products are widely used in pure electric buses, passenger cars, logistics vehicles, forklifts and more.

When put into official production, the project is expected to have an output value of 6 billion yuan, generate tax revenue of about 220 million yuan, and provide more than 450 jobs, according to Liu Jiacheng, deputy director of the Kaiyang company.

The project is in line with Kaiyang's strategy to develop the fine chemicals and new energy power battery materials and coordinate the development of basic phosphorus chemicals and supporting industries.

Kaiyang has set up goals to achieve a regional GDP of more than 50 billion yuan this year.

Production devices are well installed and adjusted to make preparations for official production. [Photo/kaiyang.gov.cn]