Ganfeng Lithium to invest battery production in Turkey

China’s Ganfeng Lithium Group said on Friday its holding unit signed an agreement with a Turkish battery producer to set up a $500 million joint venture for lithium battery production.

Jiangxi Ganfeng Lithium Battery Technology and Turkish top lead-acid battery producer Yigit Aku plan to build a production lithium battery plant in Turkey with an annual production capacity equivalent to 5 gigawatt-hours of energy, according to a filing Ganfeng filed to the Shenzhen Stock Exchange.

[Reuters]