PVTIME – BTR New Material Group Co., Ltd.(BTR, 835185.BJ), recently announced its intention to build a second lithium battery positive material plant in Morocco, with an estimated investment of 2.618 billion yuan (approximately US$293.37 million), to meet market demand and expand its overseas market share.
Following its 50,000MT lithium battery cathode materials project launched in Morocco in December 2023, the new project is the second that BTR has invested in the Tangier Science and Technology Park in Morocco, with a production capacity of 60,000MT. This new project will be operational within two years, at which point these two projects are expected to complete its positive and negative battery material plants in Morocco.
BTR’s globalisation progress through overseas projects has accelerated significantly, and its operating data has increased year on year. From 2020 to 2023, its overseas sales revenue was 1.802 billion yuan, 2.667 billion yuan, 4.992 billion yuan and 5.063 billion yuan, respectively, showing a year-on-year increasing trend.
In addition, the first phase of BTR’s negative battery material project in Indonesia with a capacity of 160,000MT was commissioned in August 2024, and the second phase will be completed in March 2025, which will make Indonesia the second largest negative battery material producer in the world in terms of output.
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