On April 19, 2024, Hunan Yuneng announced that it planned to establish an investment company in Singapore, and then set up a project company in Spain through the investment company to promote the investment and construction of a lithium battery cathode material project with an annual output of 50,000 tons. This move demonstrates Hunan Yuneng’s ambition to continue to expand its presence in the new energy field and is expected to further enhance the company’s competitiveness in the international market.

The total investment is approximately RMB 982 million. The investment and construction of the project will make full use of Spain's geographical advantages, abundant resources and mature industrial foundation to ensure efficient operation and stable output of the project. The annual output of 50,000 tons of lithium battery cathode materials will greatly meet the demand for high-performance lithium batteries in domestic and foreign markets and further consolidate Hunan Yuneng's leading position in the industry.

Hunan Yuneng said that the implementation of this foreign investment will have a positive impact on the company, which will help expand the European and American markets and customer groups, promote the smooth development of the company's overseas business; it will be conducive to technological innovation and equipment innovation, and enhance the company's comprehensive competitiveness; it will It will help expand the production scale of lithium iron phosphate and increase the company's global market share of lithium iron phosphate.

The implementation of the project will help enhance Spain's position in the global new energy industry. Lithium battery cathode materials are an important part of the new energy industry, and their production and research and development levels are directly related to the country's competitiveness in the new energy field. As a leading company in the industry, Hunan Yuneng's project investment and construction will bring advanced technology and management experience to Spain and promote the upgrading and development of Spain's new energy industry.Editor/Zhang Liyuan