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.

Easpring CAM output surges as energy storage demand accelerates

Easpring

Easpring CAM output more than doubled in the first half of 2025. The surge reflects strong downstream demand across EVs and stationary storage. Easpring CAM output reached 73,133t, up from 35,955t a year earlier. Revenue rose 25pc to Yn4.432bn, while net profit increased 8.5pc to Yn311mn. The firm now supplies NCM, LFP and LCO, with LFP adoption boosting volumes.

Capacity expansion underpins growth and Europe strategy

Easpring CAM output is supported by new LFP capacity in Sichuan. The first 40,000 t/yr phase started in 2024, with another 90,000 t/yr due by end-2025. The company is also building a CAM plant in Kotka, Finland, to serve European customers. As a result, market participants expect total output to exceed 150,000t in 2025.

Tier-one partnerships deepen order visibility

Easpring strengthened its position with global battery leaders. Partners include SK On, LGES, Samsung SDI, Murata, BYD, EVE Energy and CALB. In March, Easpring agreed to supply 110,000t of ternary CAM to LGES over 2025-27. Meanwhile, LFP demand from energy storage systems continues to expand order books. Therefore, scale and product breadth support multi-region shipments.

The Metalnomist Commentary

LFP’s momentum in grid and behind-the-meter storage is reshaping CAM mix and margin profiles. Watch how European localization in Finland interacts with IRA-style policies and OEM qualification cycles. If LFP pricing stabilizes, Easpring’s volume leverage could outweigh modest unit margins.

China's Easpring Boosts Battery CAM Output Amid Rising NEV Demand

Chinese lithium-ion battery cathode active material (CAM) manufacturer, Beijing Easpring, has reported a significant increase in production for the first half of 2024. The surge is attributed to the growing demand from the new energy vehicle (NEV) industry. Easpring's total CAM output rose by 24% year-on-year, reaching 35,955 tons, driven by the increasing adoption of NEVs in China.

Among the output, 20,902 tons were lithium nickel-cobalt-manganese oxide (NCM), 1,755 tons were lithium cobalt oxide (LCO), and 13,298 tons were lithium (manganese) iron phosphate. The company's growth aligns with China’s accelerated shift from internal combustion engine vehicles to NEVs, which now hold over 40% of the domestic market share. This transition has propelled China’s lithium-ion battery shipments to 459GWh in the first half of the year, reflecting a 21% year-on-year increase.

To support this growth, Easpring and Sichuan Shudao New Material Technology established a joint venture, Easpring Shudao (Panzhihua) New Material, in 2022. The joint venture is constructing a large-scale CAM production complex in Panzhihua city, Sichuan province, with a total annual capacity of 300,000 tons. This includes the first phase of 120,000 tons per year for lithium (manganese) iron phosphate and an additional 200,000 tons per year for NCM. Production of lithium (manganese) iron phosphate commenced in the first half of 2024, though details about other phases of the project remain undisclosed.

Additionally, Easpring expanded its global presence by partnering with Finnish Minerals and South Korean battery producer SK in November 2021 to establish a European CAM joint facility. This made Easpring the first Chinese CAM manufacturer to set up a nickel-cobalt-manganese plant in Europe, solidifying its position in the global market.

Easpring’s main products, NCM and LCO, are supplied to major battery manufacturers including SK On, Samsung SDI, LG, Murata, EVE Energy, BatteroTech, and Yichun Qingtao Energy Technology.

Easpring Finland CAM Plant Construction to Begin in 2025

Easpring Finland

Chinese-Finnish joint venture targets 60,000 t/yr cathode material output by 2027

Easpring Finland launches €800mn CAM plant project

Easpring Finland CAM plant construction will begin in April 2025, targeting commercial operations by 2027. The joint venture includes Beijing Easpring Material Technology (70%) and Finnish Minerals Group (30%). This facility will supply cathode active material (CAM) for electric vehicle batteries and other energy storage systems. As a result, Finland continues to solidify its role in Europe's battery supply chain strategy.

The initial production capacity will reach 60,000 t/yr, with scalability for future expansion.

This aligns with Finland’s ambition to become a sustainable battery materials hub in northern Europe.

Finnish government backs project with €100mn investment

The total project cost is €800mn, with Finland contributing €100mn via its state-owned entity Finnish Minerals Group. This support highlights the country’s industrial policy focus on energy transition and raw material self-sufficiency.

Meanwhile, Beijing Easpring brings proven CAM manufacturing expertise to the partnership, ensuring production readiness by 2027. This collaboration is one of several European initiatives aiming to localize critical battery material manufacturing.

The Metalnomist Commentary

The Easpring Finland CAM plant reflects a broader shift toward cross-border industrial cooperation in the battery sector. By merging Chinese know-how with Finnish resources and EU policy support, this project could reshape CAM supply in Europe. It also reflects a growing preference for diversification away from Asia-only supply chains.

Easpring Launches Lithium CAM Production in Finland to Supply European Battery Market

Finnish Battery Group

Joint Venture with Finnish Minerals Backs Strategic CAM Investment in Kotka

Beijing Easpring has initiated lithium CAM production in Finland, targeting Europe’s expanding battery manufacturing sector. The new facility in Kotka, southeast Finland, is being developed through a joint venture with Finnish Minerals Group (FMG) and its subsidiary Finnish Battery Chemicals (FBC). The project, valued at €800 million, marks a pivotal step in establishing localized cathode active material (CAM) production in the EU.

500,000t Capacity Aims to Meet Surging European Battery Demand

The facility will produce 500,000 tonnes/year of CAMs, including 200,000 tonnes of NCM and 300,000 tonnes of LFP/LMFP. The first phase targets 60,000 tonnes of NCM, aligning with growing EV demand and localized supply strategies. While the launch date remains undisclosed, Easpring emphasized its commitment to sustainability and innovation in lithium CAM production in Finland.

Strengthening Finland’s Battery Value Chain and Industrial Sovereignty

The investment strengthens Europe’s ability to produce battery-grade materials domestically, reducing reliance on imported inputs. FMG CEO Matti Hietanen highlighted the project's importance to Finland’s battery value chain, while Easpring Chair Chen Yanbin noted its role in setting global CAM standards. The company already supplies major OEMs including SK On, LGES, and Samsung SDI, and sources materials from CNGR, Albemarle, and Huayou Cobalt.

The Metalnomist Commentary

The move to localize lithium CAM production in Finland aligns with Europe’s EV supply chain autonomy goals. Easpring’s investment marks a strategic pivot toward resilient, regional battery materials manufacturing that could reshape EU-China industrial partnerships.

CNGR Raises CAM Precursor Output and Sales in 2024

CNGR

CNGR Boosts Output Across Key Battery Materials

China’s CNGR Advanced Material increased its cathode active material (CAM) precursor production and sales in 2024, reflecting robust battery sector demand. Total CAM precursor output rose by 2.4% year-on-year to 291,019 tonnes, including nickel-cobalt-manganese (NCM) precursor, cobalt tetroxide, and iron phosphate.

The company’s operating capacity averaged 63%, with cobalt tetroxide production running at 102% capacity due to strong electronics sector demand. Production reached 192,548t NCM precursor, 26,922t cobalt tetroxide, and 71,549t iron phosphate, confirming balanced growth across its portfolio.

Sales Expansion and Global Strategic Shifts

CNGR’s total CAM precursor sales climbed 11% to 302,060 tonnes in 2024, outpacing production growth due to efficient logistics and stable client demand. The firm operates major production hubs in Hunan, Guizhou, and Guangxi, and launched Morocco’s first ternary precursor lines in January 2024.

However, CNGR will exit its Finland project, citing regulatory uncertainty and poor market conditions in Europe. This strategic pivot emphasizes the firm’s renewed focus on Asia and North Africa as growth zones.

Customer Base and Metal Diversification Efforts

CNGR supplies materials to leading battery producers including CATL, LG Chem, Samsung SDI, and Tesla, as well as CAM firms like XTC, Beijing Easpring, and Ningbo Ronbay. It began cobalt metal deliveries in July 2024 from its new 2,000t/yr facility in Guangxi, marking a downstream integration move.

This expansion into refined cobalt suggests a broader vertical integration strategy aimed at reinforcing CNGR’s presence in the global battery value chain.

The Metalnomist Commentary

CNGR’s 2024 performance shows strong resilience and strategic recalibration. While European uncertainties prompted a project withdrawal, the firm’s pivot toward Morocco and cobalt refining in Guangxi signals regional diversification and resource control. Expect CNGR to deepen its influence in battery metals amid growing EV demand.

Yuneng CAM battery plant in Malaysia targets booming LFP demand

Yuneng

China’s Hunan Yuneng will build the Yuneng CAM battery plant in Malaysia to serve surging overseas demand. The $133mn project will add 90,000 t/yr of cathode active material capacity. The Yuneng CAM battery plant in Malaysia positions the company closer to EV and energy-storage customers.

Capacity, timeline, and market rationale

Yuneng will invest 950mn yuan to establish a wholly owned Malaysian subsidiary. Construction will take 15 months after approvals. The Yuneng CAM battery plant in Malaysia leverages Asean trade access and logistics advantages. LFP batteries now win on cost and durability, boosting global adoption. Major automakers are embracing LFP cells across mass-market models.

Yuneng’s growth and the wider China CAM push

Yuneng ran at 101% utilization in 2024, producing 735,462t of LFP. It sold 710,565t, with 41% shipped to energy storage projects. Overseas capacity hedges policy risk and potential domestic oversupply. Meanwhile, Chinese peers expand abroad to diversify supply chains. Lopal launched Indonesian LFP output in 2024, and Ronbay plans a European line. Easpring is building CAM in Finland, while XTC and Orano advance CAM facilities in France.

The Metalnomist Commentary

Yuneng’s Malaysian move strengthens regional sourcing for EV and ESS cathodes. Watch siting, permitting, and feedstock procurement during execution. If timelines hold, Southeast Asia gains strategic weight in the global LFP ecosystem.

CNGR to Withdraw from pCAM Plant in Finland

CNGR Advanced Materials

Strategic Exit Reflects Shifting Battery Market Conditions

Chinese battery materials producer CNGR Advanced Materials will exit its planned pCAM plant in Finland, citing tough market conditions. The plant, located in Hamina, was expected to produce 60,000 metric tonnes per year of precursor cathode active materials (pCAM).

CNGR’s withdrawal was driven by slower EV adoption in the EU and regulatory uncertainties, according to CEO Dani Widjaja. The move signals CNGR’s intent to focus on core operations amid a changing global demand environment for battery materials.

As a result, the Finnish Minerals Group — a state-owned special purpose entity — will now hold full ownership of the joint venture.

Second Global Pullback Raises Supply Chain Questions

This is CNGR’s second major overseas exit in 2024, following its earlier withdrawal from a nickel JV with South Korea's Posco. Such retrenchments highlight how macroeconomic and policy shifts can reshape battery material investment strategies.

The decision could also impact Finland’s broader ambitions in the battery supply chain.

Specifically, it raises questions for the Easpring-Finnish Minerals Group CAM joint venture, as pCAM is a critical upstream input.

Meanwhile, Finland remains committed to building out its domestic battery value chain, though investor appetite may now face increased scrutiny.

EU Battery Landscape Faces Investment Headwinds

CNGR’s exit reflects broader investment hesitation in Europe’s EV materials sector, which has been slower to mature than expected. High inflation, policy delays, and competition from US incentives have complicated Europe’s path toward battery supply autonomy.

However, Finland continues to be a key node in Europe’s raw material strategy, offering abundant natural resources and strong political support. Yet securing consistent, long-term partners will be essential to maintaining momentum in battery precursor and cathode development.

The Metalnomist Commentary

CNGR’s Finland retreat is a cautionary tale for Europe’s battery ambitions. Supply chain localization must move faster than global headwinds. Without synchronized policy and demand growth, the continent risks losing strategic partners to more stable or incentivized regions.