Chinese battery material producer BTR reported a 17.6% increase in anode material sales for the first half of 2024, reaching over 200,000 tons compared to 170,000 tons during the same period last year. This growth is attributed to the steady expansion in the lithium-ion battery and new energy vehicle sectors.
Challenges with Revenue and Prices
Despite the rise in sales volume, BTR's revenue from the anode material sector fell by 18.2% to 5.18 billion yuan ($730 million) due to intense price competition. Additionally, revenue from graphite flake materials also dropped by 18.1% to 31 million yuan, reflecting a decline in flake prices.
China's production of new energy vehicles (NEVs) saw a significant increase, totaling 4.929 million units, up 30% from the previous year, with sales rising by 32% to 4.944 million units. The newly installed power battery volume also surged by 33.7% to 203.3 GWh.
BTR is expanding its operations internationally, launching the first phase of its anode material plant in Indonesia on August 7, with a total capacity of 160,000 tons per year. The initial phase has a capacity of 80,000 tons per year. Additionally, BTR began construction of a cathode material plant in Tangier, Morocco, on April 8, with a planned capacity of 50,000 tons per year. The company also plans to build an anode material plant in Tangier, with a designed capacity of 60,000 tons per year.
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