Ganfeng Lithium Revs Up Battery Ambitions With LiEnergy Spinoff

Nov. 25, 2022 3:15 AM ETGanfeng Lithium Group Co., Ltd. (GNENF), GNENY
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Summary

  • Ganfeng Lithium will spin off its LiEnergy battery unit, seeking to take advantage of higher valuations for battery makers compared with lithium producers.
  • The spinoff is probably a prelude to a separate listing for LiEnergy, which could come as soon as late 2023 when the unit is set to launch two major new production facilities.
  • Ganfeng said it will supply 2 billion yuan to LiEnergy, and will bring in another 11 external investors to supply up to another 390 million yuan.

Lithium abstract concept

Olemedia

Watch out world, here comes another major lithium battery maker.

In a trend that looks all too “made in China,” Ganfeng Lithium Group Co. Ltd. (GNENY; OTCPK:GNENF)(1772.HK; 002462.SZ), one of the world’s top producers of the key

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