On October 8, 2024, Phase I of LBM, a lithium iron phosphate cathode material factory invested by Lopal Technology in Indonesia, was officially put into production in the Kendal Special Economic Zone in the Central Java industrial belt. Indonesia's Coordinating Minister for Maritime and Investment Affairs Luhut, and Lopal Technology and LBM President Shi Junfeng attended the production ceremony.
LBM Indonesia Factory is a subsidiary established by Lopal Technology in Indonesia in February 2022 through Changzhou Lithium Source. The total investment in the factory is US$350 million, of which Phase I investment is US$100 million with an annual output of 30,000 tons of lithium iron phosphate. Future Phase II investment is US$250 million with an annual output of 90,000 tons. After Phase II is completed, Lopal Technology's Indonesia factory LBM will become the world's second-largest lithium iron phosphate cathode producer after China, with a total capacity of 120,000 tons per year.
With excellent performance and stable quality, LBM products can supply multiple globally leading lithium battery manufacturers such as CATL, Sunwoda Electronic Co., LG Battery, etc. They have also won the trust of automobile manufacturers such as Geely, GAC, Wuling, and Li Auto. Through exports to countries such as the United States, Europe, Japan, and South Korea, LBM's revenue target reaches US$1.2 billion per year.
Indonesia's Coordinating Minister for Maritime and Investment Affairs Luhut stated that with the increasing popularity of electric vehicles (EVs) globally, he hopes that with the commissioning of the LBM factory, the demand for lithium iron phosphate batteries worldwide can be met.
LBM CEO and President Shi Junfeng stated that the factory not only supports Indonesia in playing an important role in the global lithium iron phosphate battery value chain but also brings more than 2,000 jobs to Indonesia and substantial foreign exchange income.
Over the past decade, the Indonesian Joko Widodo government has adhered to industrialization and mineral downstream industrialization policies. The investment of Chinese companies, led by Tsingshan, in Indonesia's nickel mining industry has not only given China a huge advantage in the supply chain of stainless steel and new energy battery raw materials, but also attracted an increasing number of Chinese new energy battery upstream and downstream companies such as CATL, BYD, Gotion High-tech, REPT Battero, Lopal Technology, BTR, Hailiang, Nord, etc., as well as at least nine major Chinese new energy automobile manufacturers to establish operations in Indonesia. This creates a full industry chain from upstream battery raw materials and battery production to downstream EV assembly, making Indonesia the EV manufacturing center in ASEAN while perfecting the global layout of China's new energy industry.
中资快讯
Lopal Technology's Indonesia Lithium Iron Phosphate Factory Phase I Officially Put into Production
On October 8, 2024, Phase I of LBM, a lithium iron phosphate cathode material factory invested by Lopal Technology in Indonesia, was officially put into production in the Kendal Special Economic Zone in the Central Java industrial belt. Indonesia's Coordinating Minister for Maritime and Investment Affairs Luhut, and Lopal Technology and LBM President Shi Junfeng attended the production ceremony.
LBM Indonesia Factory is a subsidiary established by Lopal Technology in Indonesia in February 2022 through Changzhou Lithium Source. The total investment in the factory is US$350 million, of which Phase I investment is US$100 million with an annual output of 30,000 tons of lithium iron phosphate. Future Phase II investment is US$250 million with an annual output of 90,000 tons. After Phase II is completed, Lopal Technology's Indonesia factory LBM will become the world's second-largest lithium iron phosphate cathode producer after China, with a total capacity of 120,000 tons per year.
With excellent performance and stable quality, LBM products can supply multiple globally leading lithium battery manufacturers such as CATL, Sunwoda Electronic Co., LG Battery, etc. They have also won the trust of automobile manufacturers such as Geely, GAC, Wuling, and Li Auto. Through exports to countries such as the United States, Europe, Japan, and South Korea, LBM's revenue target reaches US$1.2 billion per year.
Indonesia's Coordinating Minister for Maritime and Investment Affairs Luhut stated that with the increasing popularity of electric vehicles (EVs) globally, he hopes that with the commissioning of the LBM factory, the demand for lithium iron phosphate batteries worldwide can be met.
LBM CEO and President Shi Junfeng stated that the factory not only supports Indonesia in playing an important role in the global lithium iron phosphate battery value chain but also brings more than 2,000 jobs to Indonesia and substantial foreign exchange income.
Over the past decade, the Indonesian Joko Widodo government has adhered to industrialization and mineral downstream industrialization policies. The investment of Chinese companies, led by Tsingshan, in Indonesia's nickel mining industry has not only given China a huge advantage in the supply chain of stainless steel and new energy battery raw materials, but also attracted an increasing number of Chinese new energy battery upstream and downstream companies such as CATL, BYD, Gotion High-tech, REPT Battero, Lopal Technology, BTR, Hailiang, Nord, etc., as well as at least nine major Chinese new energy automobile manufacturers to establish operations in Indonesia. This creates a full industry chain from upstream battery raw materials and battery production to downstream EV assembly, making Indonesia the EV manufacturing center in ASEAN while perfecting the global layout of China's new energy industry.