KL Trader Investment Research Articles

Ganfeng Lithium Unveils Its First Solid-state Battery

Publish date: Mon, 13 Dec 2021, 09:38 AM
This is a personal investment blog where I keep important research articles relating to KLSE companies.

China’s Ganfeng Lithium (Ganfeng), the world’s largest lithium producer by market capitalization, revealed its first-generation solid-state battery, with its first batch targeted to be delivered by February 2022, and is currently working on a second generation all-solid-state battery. Dongfeng Motor’s E70 model – an electric sedan – will be the first to use the battery.

Ganfeng and Its Latest Updates

Ganfeng is incorporated in China and is principally engaged in the exploration and sale of lithium ore, and the manufacturing and sale of lithium products such as lithium metals and compounds to the electronics and pharmaceutical industries. They are also involved in the manufacturing and sale of lithium batteries, which are used in electric vehicles and consumer electronic devices.

Last April 2021, Ganfeng said that it would build a plant in Jiangxi to produce 7,000 tonnes per year of lithium metal for the solid-state battery sector; solid-state batteries use solid electrolytes instead of flammable liquid ones, making them safer than the lithium-ion batteries now commonly used in electric vehicles, and have a higher energy density (Reuters, 8 Apr).

On Friday 10 December, Ganfeng released its semi solid-state battery, earlier than market expectations. The first batch will undergo trial runs prior to delivery by February 2022, for use on the Dongfeng E70, an electric sedan. This comes just 5 months from Ganfeng and China’s state-controlled automater Dongfeng signing an agreement to develop, promote and demonstrate the viability of Dongfeng’s E70 solid-state battery model (Argus Media, 27 Jul).

In other news, an article on Nikkei Asia (8 Dec) said that Ganfeng is snapping up lithium mines and salt lakes abroad amid a pivot to electric vehicles. As attention and needs shift to renewables, Ganfeng plans to double production by 2025 compared to 2020 to help meet this demand. With an increased need in raw materials, Ganfeng is buying up interests in lithium concessions globally.

Source: Macquarie Research - 13 Dec 2021

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