BEIJING, Sept 11 (Askume) – Chinese battery giant CATL (300750.SZ) said on Wednesday it plans to adjust lithium production in Jiangxi province.
Falling prices for the metal, used mainly in electric vehicles and solar cells, have forced many global lithium producers to cut output and layoff workers.
The huge lithium mine owned by CATL in Yichun city, Jiangxi province is an important reason for the rapid increase in supply in China.
However, analysts say the cost of producing battery materials from the hard lithium ore lepidolite is too high.
“Based on recent conditions in the lithium carbonate market, the company plans to make adjustments to Yichun’s lithium carbonate production,” CATL told Askume after trading in Asia on Wednesday.
This was in response to a Askume request for comment after analysts reported that CATL had suspended its giant lepidolite mine, sending lithium futures prices and shares of some global companies sharply higher.
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