Total taps into China's Li-ion cell market via JV

0 Comment(s)Print E-mail Xinhua, April 9, 2019
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A subsidiary of French energy giant Total has partnered with a Chinese energy technology firm to tap China's lithium-ion (Li-ion) cell market in the country's drive to a green future.

Saft, the Total subsidiary, has inked an agreement with Tianneng Group subsidiary Tianneng Energy Technology (TET) to set up a joint venture (JV) to expand their Li-ion business in China, according to a statement from Total.

Saft will have a 40 percent shareholding of the new JV, with the remaining held by TET.

The JV will mainly focus on the development, manufacturing and sales of advanced Li-ion cells, modules and packs for China and worldwide markets.

Manufacturing will be based at Changxing in east China's Zhejiang Province, with a potential capacity of 5.5 GWh.

The two parties also planned to expand the Changxing facility to ramp up its production capacity to meet future growing demand, mainly driven by e-mobility sales and the development of renewables.

The partnership will give Saft access to China's booming battery market as well as highly-competitive mass production capacity to accelerate its growth, said Patrick Pouyanne, Chairman and CEO of Total.

China is the world's largest renewables market, whose Li-ion sector is expected to represent over 40 percent of the global demand by 2025. 

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