TREE NEWS update: XTC New Energy Materials will invest 723 million yuan ($100M) through its controlled subsidiary Ya’an XTC New Energy Materials to build a 40,000-ton-per-year lithium iron (manganese) phosphate project in Ya’an, Sichuan. The project includes 676 million yuan in fixed-asset investment and 46.53 million yuan in working capital, with an 18-month construction period and production targeted for June 2028. Upon completion, Ya’an XTC’s lithium iron (manganese) phosphate capacity will reach 120,000 tons per year.
Xiamen Tungsten’s XTC New Energy to invest 723M yuan in 40,000-ton lithium iron phosphate project
The detail worth noting is the chemistry: lithium iron manganese phosphate rather than plain LFP, a manganese-doped variant that Chinese producers have been scaling to improve energy density at lower cost. This is a midstream capacity bet by a tungsten specialist's battery arm, sized modestly relative to the sector's largest players, so it reads more as incremental positioning in Sichuan's clustering than a market-moving commitment. The 18-month build to a 2028 start means the real test is whether LMFP demand has materialized by then; whether cathode buyers adopt manganese-blended formulations at scale is the open question.
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