BTR anode materials sales surge on EV and storage demand

BTR

BTR anode materials sales rose sharply in the first half of 2025. BTR anode materials sales exceeded 260,000t, rising about 30% year on year. This momentum underscores BTR anode materials sales strength across EVs and energy storage markets.

BTR expanded synthetic anode output to over 220,000t. That marked a 46% annual increase from strong downstream demand. Therefore, product mix shifted toward higher-spec synthetic grades.

Revenue from anode materials reached Yn6.28bn in January–June. That was up 21% from last year. As a result, operating scale improved alongside volume growth.

BTR lifted total anode capacity to 575,000 t/yr. That was up 16% from 495,000 t/yr. Hence, capacity now better supports large OEM contracts.

Indonesia ramp anchors overseas expansion

BTR launched its first overseas anode plant in Sulawesi. Phase one added 80,000 t/yr toward a 160,000 t/yr nameplate. Consequently, the company diversified manufacturing beyond China.

China’s graphite flake exports to Indonesia surged in 2025. Shipments reached 24,163t for January–July. This reflected BTR’s feedstock routing to the Sulawesi facility.

Meanwhile, total Chinese flake exports hit 61,281t. That nearly doubled year on year. Therefore, regional supply chains intensified around Indonesia.

Outlook for EV batteries and energy storage

BTR anode materials sales should track NEV and storage growth. Policy support and cost deflation remain key drivers. Moreover, synthetic graphite gains share in high-performance cells.

Energy storage orders are expanding rapidly. This supports LFP-heavy deployments with stable margins. However, feedstock and power costs require close management.

Global OEM qualification pipelines are widening. As a result, multi-site supply will become a competitive advantage. BTR’s Indonesia base strengthens that position.

The Metalnomist Commentary

BTR is scaling at the right nodes of the value chain. Overseas anode capacity plus captive flake flows reduce logistics risk and tariffs. Watch synthetic share, power contracts, and OEM long-term awards for margin durability.

BTR Expands Anode Material Sales Amid Global EV Demand Surge

BTR

Strong Growth in Anode Segment Offsets Cathode Decline

BTR increased its anode material sales in 2024, driven by growth in lithium-ion batteries and new energy vehicles (NEVs). The Chinese battery material firm sold 437,762 tonnes of anode materials last year, up 21% from 2023. This performance reinforces BTR’s leading role in the global anode material market, a critical segment for EV battery production.

However, revenue from anode sales dropped by 13% year-on-year due to intensified price competition and expanded industry capacity. Despite that, BTR’s anode output rose 20% to 453,535 tonnes, supported by its new 50,000 t/yr plant in Dali, Yunnan province.

Overseas Expansion and Cathode Setbacks

BTR expanded globally in 2024, launching an 80,000 t/yr anode facility in Sulawesi, Indonesia, and beginning construction on another plant in Semarang. It is also building an integrated site in Tangier, Morocco, including both anode and cathode material capacity. Meanwhile, cathode material sales dropped sharply by over 50%, falling to just 19,760 tonnes amid fewer orders and tougher pricing.

As a result, cathode revenue plunged 75% and BTR chose not to increase its cathode capacity, which remains at 63,000 t/yr. The company’s graphite flake revenue also fell significantly, down 67%, due to global oversupply and weak prices.

China’s Dominance in Anode Market Continues

China shipped 2.12mn tonnes of anode materials in 2024, making up 96% of global shipments, according to EV Tank. Synthetic graphite accounted for 84% of the Chinese total, underlining its dominance in high-performance EV battery materials. BTR’s growing output and international expansion position it well to benefit from this trend despite ongoing pricing pressures.

The Metalnomist Commentary

BTR's aggressive expansion in anode materials reflects China’s strategic positioning in the EV battery race. However, the sharp cathode decline shows the market's volatility, highlighting the need for margin resilience amid global oversupply cycles.

China's BTR Expands Global Footprint with New Anode Material Plant in Indonesia

Chinese battery material producer BTR has inaugurated its first overseas anode material plant in Indonesia, marking a significant step in the company’s global expansion strategy. Located in central Sulawesi, the plant is set to bolster the supply chain for lithium-ion batteries across Indonesia and the broader ASEAN region.

The new facility boasts a total production capacity of 160,000 metric tonnes per year (t/yr) of anode material, with the first phase, launched today, contributing 80,000 t/yr. This initial phase required an investment of $478 million, according to BTR Chairman He Xueqin. "The commencement of this plant will fill a crucial gap in anode material production for lithium-ion batteries, not only in Indonesia but across the ASEAN region, strengthening the entire new energy lithium battery industry chain," He stated.

This Indonesian project is BTR’s first operational venture outside of China, but the company is not stopping there. BTR Mediterranean, a subsidiary, broke ground on a new plant in Tangier, Morocco, on April 8th. This facility, designed to produce 50,000 t/yr of cathode materials, represents another strategic move to expand BTR's influence in the global battery materials market, though its commissioning date remains unannounced.

BTR continues to grow its production capacity within China as well. On June 16th, the company launched the first phase of an anode material plant in Lijiang, Yunnan province, which will eventually have a total capacity of 200,000 t/yr. The initial phase, with a capacity of 50,000 t/yr, began construction in May 2022. Additionally, BTR is on track to start production at another anode material plant in Shanxi province by the end of this year, which will add 40,000 t/yr to its capacity.

In 2023, BTR’s overall production capacity for anode materials reached 477,500 t/yr, a 45.6 percent increase from the previous year. The company produced 376,899 tonnes of anode materials in 2023, up 10.7 percent year-on-year.

BTR's Anode Material Sales Up 17.6% Amid Price Pressures

Chinese battery material producer BTR reported a 17.6% increase in anode material sales for the first half of 2024, reaching over 200,000 tons compared to 170,000 tons during the same period last year. This growth is attributed to the steady expansion in the lithium-ion battery and new energy vehicle sectors.

Challenges with Revenue and Prices

Despite the rise in sales volume, BTR's revenue from the anode material sector fell by 18.2% to 5.18 billion yuan ($730 million) due to intense price competition. Additionally, revenue from graphite flake materials also dropped by 18.1% to 31 million yuan, reflecting a decline in flake prices.

China's production of new energy vehicles (NEVs) saw a significant increase, totaling 4.929 million units, up 30% from the previous year, with sales rising by 32% to 4.944 million units. The newly installed power battery volume also surged by 33.7% to 203.3 GWh.

BTR is expanding its operations internationally, launching the first phase of its anode material plant in Indonesia on August 7, with a total capacity of 160,000 tons per year. The initial phase has a capacity of 80,000 tons per year. Additionally, BTR began construction of a cathode material plant in Tangier, Morocco, on April 8, with a planned capacity of 50,000 tons per year. The company also plans to build an anode material plant in Tangier, with a designed capacity of 60,000 tons per year.

Kuntian Anode Plant Phase Two Targets December Start Amid Yunnan Capacity Boom

Kuntian

Kuntian anode plant phase two strengthens silicon-carbon supply

Kuntian anode plant phase two will start production by late December. The project adds 40,000 t/yr of silicon-carbon anodes. Kuntian anode plant phase two follows a first phase launched in January 2023. The first phase also holds 40,000 t/yr of capacity. Kuntian anode plant phase two slipped from 2023 because funding fell short. However, the company has revived timelines and execution.

Yunnan’s hydropower hub draws major anode producers

Yunnan offers cheap hydropower and stable power access. Therefore, producers cluster in Dali, Kunming, Qujing, and Yuxi. BTR started a 50,000 t/yr line in June 2025. Shanshan began 200,000 t/yr in January 2024. Zhongke launched 50,000 t/yr in June 2024. Its second 50,000 t/yr line starts this December. Yunnan’s total anode capacity has reached 510,000 t/yr.

Strong NEV demand supports rapid anode expansion. China produced 8.23mn NEVs in January–July, up 39% year on year. CAAM expects domestic sales near 16mn in 2025. Meanwhile, Kuntian produced 30,800t of anodes in 2024. That share equaled roughly 2% of national output. The firm also plans a third phase of 50,000 t/yr. However, it has not disclosed construction dates.

The Metalnomist Commentary

Yunnan’s hydropower arbitrage underpins cost and carbon advantages. Kuntian’s timed ramp aligns with peak NEV seasonality and new model launches. Watch third-phase timing and silicon-carbon adoption rates across premium cells.

Shangtai to Build $154mn Battery Anode Plant in Malaysia

Shangtai Tech

Chinese lithium-ion battery anode manufacturer Shijiazhuang Shangtai has announced plans to establish a production facility in Kedah, Malaysia. The Shenzhen-listed company approved the creation of a wholly-owned subsidiary, Shangtai Technology Malaysia, to oversee the development of the plant, which is projected to cost $154 million and have a production capacity of 50,000 tons per year for battery anode materials.

Construction Timeline and Strategic Expansion

While the site is expected to be completed within 24 months, Shangtai has yet to disclose the start date for construction. This new facility forms part of Shangtai's broader strategy to expand its production capacity and gain a competitive edge in the global battery market.

In the first half of 2024 alone, Shangtai sold 83,800 tons of anode materials, marking a 61% increase compared to the 52,200 tons sold during the same period in 2023. The company is also constructing a 100,000-ton-per-year production plant in Wuji County, Shijiazhuang City, Hebei Province, China, which is set for completion by 2026. Additionally, Shangtai operates a 200,000-ton-per-year complex in Xiyang County, Jinzhong City, Shanxi Province.

Context of Chinese Companies' Global Expansion

The move by Shangtai reflects a larger trend of Chinese companies seeking overseas expansion to mitigate rising geopolitical restrictions, such as the US Inflation Reduction Act and the EU's Critical Raw Material Act. Another key player, BTR, recently launched its first phase of an overseas anode material plant in Indonesia with an 80,000-ton-per-year capacity on August 7. Furthermore, BTR is also developing cathode and anode material plants in Tangier, Morocco, with capacities of 50,000 tons and 60,000 tons per year, respectively.

This strategic push not only strengthens China's position in the global battery material supply chain but also enhances production capabilities to meet growing demand for electric vehicle components and renewable energy storage solutions.

China's Graphite Market to Grow in 2025 Despite Oversupply and Geopolitical Challenges

China Graphite

China's graphite flake market is set to expand further in 2025, driven primarily by sustained demand from the new energy vehicle (NEV) industry. Despite challenges such as oversupply and geopolitical uncertainties, the market remains resilient due to the critical role of graphite in producing lithium-ion battery components like anodes.

The NEV industry, a major consumer of graphite, has grown exponentially in China over the past decade, supported by the country's decarbonization agenda. In 2023, NEV production reached 11.345 million units (up 35% year-on-year), with sales climbing 36% to 11.262 million units. By October 2023, NEVs accounted for 46.8% of China's auto market, up from 26% in 2022.

To meet rising demand, China's domestic graphite flake production increased from 930,000 tons in 2020 to 1.2 million tons in 2023. Major companies, such as China Minmetals Heilongjiang Graphite, have launched large-scale projects, including a 6 million tons/year graphite flake ore production complex. Additional capacity expansions are underway, including projects by Heilongjiang Ruitong, Heilongjiang Longda, and Inner Mongolia Hengyu.

Export Licensing Challenges and Geopolitical Headwinds

However, Beijing's introduction of export licensing controls on graphite products like flake and spherical graphite is curbing exports. From January to October 2023, Chinese graphite flake exports dropped 23% year-on-year to 49,647 tons. Exports to India plummeted to zero, compared with 9,379 tons in the same period last year, largely due to the new regulatory restrictions.

Exporters must now comply with stringent licensing procedures that require detailed documentation, including technical descriptions, end-user identity verification, and export contracts. This move aligns with China's broader export control legislation for dual-use items, which applies to goods that have both civilian and military applications.

China also reduced tax rebates for spherical graphite exports, an essential component in lithium-ion batteries, from 13% to 9%, effective December 1, 2023. Meanwhile, stricter inspections on US-bound graphite shipments reflect escalating trade tensions between the two countries. Policies such as the US Inflation Reduction Act and the EU's Critical Raw Materials Act are further encouraging global battery manufacturers to diversify supply chains away from China.

Global Battery Producers Adapt

In response to export restrictions and potential US tariff hikes, Chinese battery manufacturers are increasing overseas investments. BTR, a major battery material producer, recently launched an 80,000 tons/year anode material plant in Indonesia and began building additional facilities in Morocco. Similarly, Shijiazhuang Shangtai is investing $154 million to establish a 50,000 tons/year anode material plant in Malaysia.

Such initiatives are helping companies hedge against geopolitical risks while ensuring a stable supply of raw materials for the growing global battery market.

Uncertain Political Climate

Political developments, such as a potential re-election of Donald Trump as US president, could further disrupt the global electric vehicle (EV) market. Trump's policies favor traditional energy sources and could lead to increased tariffs on lithium-ion batteries and related raw materials. This uncertainty underscores the importance of diversifying supply chains and expanding overseas production.

China’s CNGR Launches CAM Precursor Production in Morocco to Expand Global Battery Supply Chain

CNGR Advanced Material

CNGR Advances Lithium-Ion Battery Materials Production in Africa

China’s leading lithium-ion battery cathode active material (CAM) precursor manufacturer, CNGR Advanced Material, has officially started production in Morocco. On January 23, the company launched its first batch of ternary precursor production lines, strengthening its global presence in the battery material supply chain.

Strategic Partnership and Project Scope

CNGR has partnered with Moroccan private investment fund Al Mada to develop the project. The joint venture, formed in 2023, aims to produce lithium-ion battery ternary CAM precursors, lithium iron phosphate (LFP), and recycle black mass from used batteries. CNGR’s subsidiary, CNGR Morocco New Energy, holds a 50.03% stake, while Al Mada’s subsidiary, NGI, owns 49.97%.

The production plant boasts an annual capacity of 120,000 tons for CAM precursors, 60,000 tons for LFP, and 30,000 tons for black mass recycling. The facility is a key step in CNGR’s plan to establish a fully integrated industrial park with a 70GWh/year battery material production capacity, which could support over one million electric vehicles.

Commitment to Sustainability and Renewable Energy

CNGR aims to achieve 100% renewable energy utilization by 2026 at its Moroccan site, significantly reducing its carbon footprint. By prioritizing local renewable energy sources, the company seeks to align with global sustainability goals and contribute to a greener battery supply chain.

Global Expansion and Market Reach

The project's output will supply markets in Europe, the United States, and other global new energy sectors. Morocco has become a strategic hub for Chinese battery manufacturers, with other key players such as BTR also developing anode material plants in the country. This expansion highlights Morocco’s growing role in the global electric vehicle (EV) battery ecosystem.