China's Easpring Raises Battery CAM Output in 2024

Easpring

LFP Plant Fuels Record Production Growth

Chinese cathode active material (CAM) producer Beijing Easpring posted a 70% increase in CAM output in 2024. This growth was driven by the launch of its lithium-iron-phosphate (LFP) production line in Sichuan. Easpring produced 103,401 tonnes of CAM, including lithium nickel-cobalt-manganese oxide (NCM), LFP, and lithium cobalt oxide (LCO), marking a major output milestone.

Strategic Expansion in LFP and Global Partnerships

Easpring’s entry into the LFP segment reflects rising demand from the energy storage system (ESS) market. In 2022, the firm began constructing a 300,000 t/yr LFP plant in Panzhihua, Sichuan, alongside Sichuan Shudao New Material Technology. The first 40,000 t/yr phase came online in 2024. A second 90,000 t/yr phase is under construction and set for completion by year-end.

Meanwhile, Easpring has strengthened its global footprint. It supplies major battery manufacturers including SKI, LG Energy Solution (LGES), Samsung SDI, and Northvolt. In March, it signed a deal to deliver 110,000 tonnes of ternary CAM to LGES between 2025 and 2027.

Strong Outlook Amid Surging Battery Demand

As electric vehicle (EV) and ESS battery markets continue to grow, Easpring’s output is projected to exceed 150,000 tonnes in 2025. Global EV battery shipments rose by 22% to 1,051.2GWh in 2024, while ESS battery shipments jumped 65% to 369.8GWh. Easpring is poised to meet this demand surge with its expanded production base and stable international partnerships.

The Metalnomist Commentary

Easpring’s aggressive scale-up in LFP shows how battery material firms are adjusting portfolios amid the shifting dynamics of EV and ESS markets. With strong partners and diversified CAM offerings, Easpring is well-positioned for growth even amid global supply chain uncertainties.