Chinese battery material producer BTR has reported a 17.6% increase in sales of anode materials for the first half of 2024, reaching over 200,000 tons compared to 170,000 tons in the same period last year. This growth is driven by the continued expansion of the lithium-ion battery and new energy vehicle (NEV) sectors.
However, despite the higher sales volume, BTR’s revenue from the anode material segment fell by 18.2% to 5.18 billion yuan ($730 million), largely due to fierce price competition. Additionally, revenue from graphite flake materials declined by 18.1% to 31 million yuan, reflecting lower market prices for flake graphite.
China’s NEV production saw significant growth, with 4.929 million units produced, up 30% from the previous year, while sales increased by 32% to 4.944 million units. The volume of newly installed power batteries also surged by 33.7% to 203.3 GWh.
In response to these market dynamics, BTR is expanding its global footprint. On August 7, the company launched the first phase of its new anode material plant in Indonesia, which has a total planned capacity of 160,000 tons per year; the initial phase accounts for 80,000 tons per year. Furthermore, on April 8, BTR commenced construction of a cathode material plant in Tangier, Morocco, with a targeted annual capacity of 50,000 tons. The company also has plans to build an anode material plant in Tangier, which is expected to have a capacity of 60,000 tons per year.
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