{"id":78230,"date":"2023-07-04T01:38:48","date_gmt":"2023-07-04T01:38:48","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/07\/04\/chinas-tinci-is-planning-to-open-a-lithium-electrolyte-factory-in-morocco\/"},"modified":"2023-07-04T01:38:48","modified_gmt":"2023-07-04T01:38:48","slug":"chinas-tinci-is-planning-to-open-a-lithium-electrolyte-factory-in-morocco","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/07\/04\/chinas-tinci-is-planning-to-open-a-lithium-electrolyte-factory-in-morocco\/","title":{"rendered":"China\u2019s Tinci is planning to open a lithium electrolyte factory in Morocco"},"content":{"rendered":"

<\/a> China\u2019s Tinci opening EV battery material plant in Morocco:<\/strong> Guangzhou Tinci<\/a>Materials Technology<\/a> (Tinci) \u2014 one of China's leading manufacturers of materials for EV batteries \u2014 is planning to establish a lithium electrolyte factory in Morocco, Morocco World News<\/a> reported last Wednesday, citing Chinese media outlet Yicai Global. Once operational, the materials produced will be exported to Tinci\u2019s European market, where demand is expected to increase as a result of recent EV tax breaks<\/a>. Lithium electrolytes are a lithium salt solution that is essential for EV battery production.<\/p>\n

What we know:<\/strong> The construction of the plant will cost MAD 2.8 bn (USD 282 mn) and is scheduled to launch operations by 2026. The plant will have an annual production capacity of 200k tons of lithium electrolytes using lithium extracted from Morocco\u2019s phosphorite ore, the news outlet reports. No details on current or potential investors were mentioned.<\/p>\n

Tinci has been on a successful profit run as demand for batteries surge:<\/strong> The company doubled its sales y-o-y, netting USD 3.1 bn in sales in 2022. Net profits also grew by 160% to reach nearly USD 790 mn, with 93% of its revenue generated from its lithium battery material division.<\/p>\n

Other Chinese firms are eyeing Morocco\u2019s lithium reserves: <\/strong>South Korean battery manufacturer LG Energy Solution signed an agreement<\/a> with Chinese lithium compounds producer Yahua to purchase lithium hydroxide from Morocco last April. The agreement was also part of LG\u2019s plan to export the critical mineral to the EU and the US.<\/p>\n

And it extends beyond North Africa: <\/strong>China\u2019s early efforts to secure lithium supply from Africa is reaping its benefits as Beijing looks to further consolidate its position as the world\u2019s top EV battery producer, Bloomberg<\/a> reported earlier this week. Mines across Africa are set to scale up production of lithium raw materials by over 30-fold by 2027 in comparison with last year\u2019s volume on the back of significant investments from Chinese companies, according to S&P Global Commodity Insights. By then, Africa\u2019s lithium supply will account for 12% of the world\u2019s supply, compared with 1% last year. The ventures by the Chinese led to the delivery of a first shipment of lithium concentrate to Zhejiang Huayou Cobalt Co. last month from a Zimbabwe project. Other projects include the Sabi Star lithium mine in Zimbabwe which is owned by Chengxin Lithium Group and Mali\u2019s Goulamina Mine which saw investments from Ganfeng Lithium Group.<\/p>\n","protected":false},"excerpt":{"rendered":"

China\u2019s Tinci opening EV battery material plant in Morocco: Guangzhou TinciMaterials Technology (Tinci) \u2014 one of China's leading manufacturers of materials for EV batteries \u2014 is planning to establish a lithium electrolyte factory in Morocco, Morocco World News reported last Wednesday, citing Chinese media outlet Yicai Global. Once operational, the materials produced will be exported […]<\/p>\n","protected":false},"author":1,"featured_media":78231,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[103],"tags":[107,102,11,64,45],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-electric-vehicles","tag-critical-minerals","tag-electric-vehicles","tag-enterpriseclimate","tag-evs","tag-morocco","wpautop","entry"],"acf":{"mongo_id":"3e10f56a-c750-4a80-9ca4-3162bd832888","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/955.jpg","photo_position":"above","related_issue":[78223],"teaser":"","voice_url":""},"yoast_head":"\nChina\u2019s Tinci is planning to open a lithium electrolyte factory in Morocco - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/04\/chinas-tinci-is-planning-to-open-a-lithium-electrolyte-factory-in-morocco\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s Tinci is planning to open a lithium electrolyte factory in Morocco\" \/>\n<meta property=\"og:description\" content=\"China\u2019s Tinci opening EV battery material plant in Morocco: Guangzhou TinciMaterials Technology (Tinci) \u2014 one of China's leading manufacturers of materials for EV batteries \u2014 is planning to establish a lithium electrolyte factory in Morocco, Morocco World News reported last Wednesday, citing Chinese media outlet Yicai Global. 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