China's Easpring Boosts Battery CAM Output Amid Rising NEV Demand

Chinese lithium-ion battery cathode active material (CAM) manufacturer, Beijing Easpring, has reported a significant increase in production for the first half of 2024. The surge is attributed to the growing demand from the new energy vehicle (NEV) industry. Easpring's total CAM output rose by 24% year-on-year, reaching 35,955 tons, driven by the increasing adoption of NEVs in China.

Among the output, 20,902 tons were lithium nickel-cobalt-manganese oxide (NCM), 1,755 tons were lithium cobalt oxide (LCO), and 13,298 tons were lithium (manganese) iron phosphate. The company's growth aligns with China’s accelerated shift from internal combustion engine vehicles to NEVs, which now hold over 40% of the domestic market share. This transition has propelled China’s lithium-ion battery shipments to 459GWh in the first half of the year, reflecting a 21% year-on-year increase.

To support this growth, Easpring and Sichuan Shudao New Material Technology established a joint venture, Easpring Shudao (Panzhihua) New Material, in 2022. The joint venture is constructing a large-scale CAM production complex in Panzhihua city, Sichuan province, with a total annual capacity of 300,000 tons. This includes the first phase of 120,000 tons per year for lithium (manganese) iron phosphate and an additional 200,000 tons per year for NCM. Production of lithium (manganese) iron phosphate commenced in the first half of 2024, though details about other phases of the project remain undisclosed.

Additionally, Easpring expanded its global presence by partnering with Finnish Minerals and South Korean battery producer SK in November 2021 to establish a European CAM joint facility. This made Easpring the first Chinese CAM manufacturer to set up a nickel-cobalt-manganese plant in Europe, solidifying its position in the global market.

Easpring’s main products, NCM and LCO, are supplied to major battery manufacturers including SK On, Samsung SDI, LG, Murata, EVE Energy, BatteroTech, and Yichun Qingtao Energy Technology.