Ganfeng Lithium, the global leader in lithium metal supply, is making plans to establish a joint venture in Turkey, aiming to contribute to the development of the local battery industry. The company’s subsidiary, Ganfeng LiEnergy, has signed a cooperation agreement with Yigit Aku, a Turkish company specializing in lead-acid batteries.
The joint venture will invest $500 million to construct a lithium battery project with an annual capacity of 5 GWh in Turkey. This ambitious project includes the establishment of a lithium battery production line and a battery pack production line. The joint venture aims to strengthen Turkey’s position in the lithium battery market, enabling it to meet the growing demand for electric vehicles and other applications.
Yigit Aku, founded in 1976, is Turkey’s largest manufacturer, exporter, and recycler of lead-acid batteries. With four production sites and a dedicated R&D team, the company serves more than 500 partner customers across the globe. By collaborating with Ganfeng, Yigit Aku can leverage its expertise in battery technology and expand its presence in the lithium battery industry.
The joint venture will also focus on research and development activities, particularly in advanced lithium battery technologies such as solid-state batteries, high-power batteries, and those used in marine and aerospace applications. This demonstrates the partners’ commitment to innovation and staying at the forefront of the rapidly evolving battery industry.
Ganfeng Lithium is recognized for its comprehensive range of lithium products and its involvement in various sectors, including electric vehicles, aerospace, functional materials, and pharmaceuticals. In addition to its lithium production capacity, the company has recently entered the power battery market, introducing its first-generation hybrid solid-state and liquid lithium-ion batteries.
With the establishment of the joint venture in Turkey, Ganfeng Lithium aims to enhance its global presence while supporting the growth of Turkey’s battery industry. This partnership will not only contribute to the advancement of lithium battery technology but also facilitate the transition to cleaner and more sustainable energy solutions worldwide.
FAQ Section:
1. What is Ganfeng Lithium?
Ganfeng Lithium is the global leader in lithium metal supply. It is involved in various sectors, including electric vehicles, aerospace, functional materials, and pharmaceuticals.
2. What is the joint venture that Ganfeng Lithium is establishing in Turkey?
Ganfeng Lithium is establishing a joint venture in Turkey with Yigit Aku, a Turkish company specializing in lead-acid batteries. The joint venture aims to contribute to the development of the local battery industry.
3. How much will the joint venture invest in Turkey?
The joint venture will invest $500 million to construct a lithium battery project with an annual capacity of 5 GWh.
4. What will be included in the project?
The project will include the establishment of a lithium battery production line and a battery pack production line.
5. What is the aim of the joint venture?
The joint venture aims to strengthen Turkey’s position in the lithium battery market and meet the growing demand for electric vehicles and other applications.
6. Who is Yigit Aku?
Yigit Aku is Turkey’s largest manufacturer, exporter, and recycler of lead-acid batteries. It was founded in 1976 and serves more than 500 partner customers globally.
7. What will the joint venture focus on in terms of research and development?
The joint venture will focus on advanced lithium battery technologies such as solid-state batteries, high-power batteries, and those used in marine and aerospace applications.
8. What is Ganfeng Lithium’s involvement in the power battery market?
Ganfeng Lithium has recently entered the power battery market, introducing its first-generation hybrid solid-state and liquid lithium-ion batteries.
Key Terms and Jargon:
– Lithium metal: A chemical element used in lithium batteries for its high energy density.
– Joint venture: A business arrangement in which two or more companies collaborate and pool resources to undertake a specific project or activity.
– Lead-acid batteries: Batteries that use lead electrodes and sulfuric acid as an electrolyte.
– GWh: Gigawatt-hour, a unit of energy equal to one billion watt-hours.
– R&D: Research and development, activities undertaken to innovate and develop new technologies or improve existing ones.
Suggested Related Links:
– Ganfeng Lithium Website: Official website of Ganfeng Lithium.
– Yigit Aku Website: Official website of Yigit Aku, Turkey’s largest manufacturer of lead-acid batteries.