Chinese lubricant marketer Lopal Technology Co. said recently that it is accelerating its previously stated strategy of growing a business to supply lithium derivatives for electric vehicle batteries.
The company, which is headquartered in Nanjing, Jiangsu province, posted a message on its social media website that it plans to increase its lithium iron phosphate production capacity from 85,000 metric tons per year to 197,500 t/y during the second half of this year.
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In November stockholders approved a proposal for Lopal to form a joint venture with Stellar Kapital Investments to build a facility in Indonesia capable of producing 100,000 tons of the material annually. Lopal said then that the partners planned to build the Indonesia plant in two phases, with the first opening in 2023.