Yiğit Akü A.Ş. After the negotiations between Ganfeng LiEnergy and Ganfeng LiEnergy in accordance with the principle of mutual benefit and long-term development strategy, companies have been working on the issues of lithium-ion battery cells, battery modules, battery packs, energy storage systems, battery management systems, energy management systems, lithium-ion battery recycling In order to expand its global market areas and shares, jointly promote international trade and enhance its impact on the international market, a framework agreement for strategic cooperation was signed on the following details.

Ganfeng LiEnergy was founded in 2011 and is a subsidiary of Ganfeng Lithium Group, whose shares are listed on the Shenzhen Stock Exchange. Ganfeng Lithium Group is one of the world’s top five companies in the field of lithium iron phosphate battery products. Ganfeng Lithium Group’s business scope covers a wide range of the lithium battery supply chain, from the development, refining and processing of lithium resources to battery production and battery recycling. Within the group, Ganfeng LiEnergy is active in the fields of solid-state batteries, consumer batteries, small polymer batteries, flow batteries and energy storage systems.

Under the Strategic Cooperation Framework Agreement, the parties aim to establish a joint venture in Turkey. The planned establishment of the joint venture will focus on building up lithium-ion battery production capacity in Turkey and market development of lithium-ion batteries and related products, which will be supplied by Ganfeng LiEnergy and produced by the joint venture itself in Turkey.

The joint venture aims to establish a production capacity of 5 GWh of lithium batteries in Turkey with a total investment of approximately USD 500 million. The plant, which will have a design capacity of 5 GWh, will include lithium battery cell production lines and battery pack production lines, to be determined in accordance with the market development plan. Products such as 100Ah, 280Ah and 314Ah lithium battery cells to be produced in the production facility, which will have a scalable capacity, will mainly target the Turkish and international energy storage system (ESS) markets.

As a result of the feasibility study, the production facility consists of R&D center, technical training center, access control and material testing center, battery testing center, warehouses and office buildings, and a closed area of ​​132,200 square meters, with a total investment in equipment of about 202,140,000 dollars. The number of staff is expected to be about 400.

The joint venture to be established will focus on new technologies, apply for intellectual property rights and provide services such as solid-state batteries, high-power batteries, marine and underwater systems, aviation and aerospace R&D projects in the field of advanced lithium battery technology, such as battery technology.

Research on the investment in question shows that the global lithium-ion battery market will reach a compound annual growth rate of 15.70% between 2023 and 2030, the market will reach USD 50 billion in 2022 and will reach USD 188 billion by the end of the projection period. It is expected to reach USD 188 billion by the end of the projection period. The total energy storage market that Turkey needs in 3 years is about 120 GWh.

The joint venture will be active in many areas, especially in the field of energy storage systems, which dominate a large part of the market. In addition, special products for electric industrial vehicles (forklifts, tractors, AGV, golf carts, cleaning machines, etc.) used by each factory, lithium batteries developed for use in base stations and telecom applications, lithium batteries for marine applications, lithium batteries for UPS applications, it will also supply lithium batteries that are accessible to end users at any time. The introduction of the products to the market will begin without waiting for the completion of the investment in the joint production facility.

The joint venture aims to increase Turkey’s production capacity, especially for export to the European market.

The joint venture will also apply for incentives under the HIT-30 programme, an investment programme that provides comprehensive support and incentives to projects specialising in high-priority technology areas and offering dedicated solutions developed based on specific needs.

It is disclosed to the public with respect.