Ningxiang High-tech Zone signed an agreement with Hunan Blossom Industrial Holding Group for LFP battery project recently.
 
This project will build a LFP battery production base with the annual production value of 200,000 tons and 40 production lines in Ningxiang High-tech Zone. At present, the LFP market is in short supply, and the market price per ton is about 50,000 to 60,000 yuan. At the same time, the LFP industry is a typically capital intensive and technology intensive project. In addition to fixed investment, it also needs to raise more cash for raw material purchasing.
 
The project has cooperated with Central South University. Relying on the scientific research achievements of the top lithium battery of Central South University, the project adopts the most advanced preparation technology and the LFP cathode materials with the best production performance in China. The product market focuses on CATL, BYD and other top battery enterprises in China. After completion, it's expected that the annual output value will be 10 billion yuan, the annual tax payment will be more than 300 million yuan and 1,000 jobs will be created.
 
"We are impressed by the efficient, professional and pragmatic work style of Ningxiang government and Ningxiang High-tech Zone, as well as its good industrial ecology, so we chose to settle in Ningxiang and doubled investment. We will make the utmost efforts to integrate best talents and technical resources in China, develop energy storage material industry in Ningxiang, and make positive contributions to the high-quality development of Ningxiang’s economy and society," said Liu Guozhong, chairman of the company.
 
In recent years, Ningxiang city has been focusing on building a strong industrial city, and seized the opportunity of national, provincial and municipal supports for the development of lithium battery new energy industry. It has also focused on cultivating the advanced energy storage material industry as the leading industry.
 
Up to now, the city has gathered leading new material enterprises such as Findreams Battery, Zoomwe New Energy and Brunp Recycling. Zoomwe New Energy Technology ranks first in the global market share of precursors, and will double its output value by more than 10 billion yuan this year.

Hunan Brunp Recycling Technology is controlled by CATL, and its waste battery recycling ranks first in the Asian market. The 10G-watt-hour blade battery production base invested by BYD has achieved an ever-increasing production capacity.  
 
As an important part of Changsha’s advanced energy storage material industry chain, Ningxiang will accelerate the intensive, green and high-end development of advanced energy storage material industry, and strive to build the energy storage material industry into a national advanced manufacturing cluster.