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On February 19, the leading domestic titanium dioxide company Lomon Baili announced that according to the needs of business and strategic development, in order to accelerate the implementation of the innovation-driven green development strategy, the company's wholly-owned subsidiary Henan Baili New Energy Materials Co.
, Ltd.
intends to invest Henan Longbai New Material Technology Co.
, Ltd.
was established in Qinyang City with RMB 300 million.
The new company's business scope includes battery manufacturing and sales, electronic special materials research and development, manufacturing and sales, and recycling of waste power batteries for new energy vehicles.
"Titanium dioxide by-product ferrous sulfate can be used as a raw material for lithium iron phosphate.
The production process of lithium iron phosphate in this project is self-developed.
It is understood that the current power batteries for new energy vehicles are mainly lithium iron phosphate batteries and ternary lithium batteries.
With the decline of my country's new energy vehicle subsidies, lithium iron phosphate batteries have become the main object of choice for car companies.
The strong downstream demand also makes the price of lithium iron phosphate continue to rise.
According to the monitoring of Baichuan Information, the quotation of mainstream lithium iron phosphate (power-type) materials companies at the beginning of November 2020 was 34,000 yuan/ton, and the corresponding quotation at the beginning of January this year has increased to 39,000 yuan/ton, the latest quotation on February 19 It is 43,000 yuan/ton.
In this context, many listed companies have increased their production capacity to seize market share.
Prior to this, another leading titanium dioxide company, China Nuclear Titanium Dioxide, announced that the company intends to invest in the construction of a lithium iron phosphate project with an annual output of 500,000 tons through its wholly-owned subsidiary, Gansu Dongfang Titanium Industry Co.
, Ltd.
Subsequently, the Shenzhen Stock Exchange issued a letter of concern to the company.
On the evening of February 8, CNNC Titanium Dioxide responded to the Shenzhen Stock Exchange’s letter of concern, stating that its own and self-raised funds exceed 5 billion yuan at this stage, which can fully meet the funding needs of the first phase of the project; at the same time, it will produce 500,000 tons of lithium iron phosphate per year.
