Ganfeng Lithium to invest battery production in Turkey

The reflection of a worker is seen at the production line of lithium-ion batteries for electric vehicles (EV) at a factory in Huzhou, Zhejiang province, China August 28, 2018.
Reuters Images/Stringer

Agreement signed with a Turkish battery producer to set up a $500mln joint venture for lithium battery production

Siyi Liu, Ella Cao and Mei Mei Chu, Reuters News

August 18, 2024

PHOTO
The reflection of a worker is seen at the production line of lithium-ion batteries for electric vehicles (EV) at a factory in Huzhou, Zhejiang province, China August 28, 2018.

BEIJING - China's Ganfeng Lithium Group said on Friday its holding unit signed an agreement with a Turkish battery producer to set up a $500 million joint venture for lithium battery production.

Jiangxi Ganfeng Lithium Battery Technology and Turkish top lead-acid battery producer YİĞİT AKÜ plan to build a 5GWh-annum production lithium battery plant in Turkey, according to a filing Ganfeng filed to Shenzhen Stock Exchange.

(Reporting by Siyi Liu, Ella Cao and Mei Mei Chu; Editing by Alison Williams)

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