GEM, one of the largest battery repurposing and recycling companies in the world and one of the leaders in cathode materials has announced a substantial investment plans for its Jingmen base. The company will invest 2.8 billion yuan (434 MUSD) in a plant for the production of 80,000 tonnes of ultra-high nickel precursor material, 50,000 tonnes of lithium iron phosphate cathode material, 15,000 tonnes of high purity lithium carbonate and 20,000 tonnes of manganese sulphate. In the announcement GEM said further investments will be made in the recycling operations which will be part of the feed of the raw materials to the new production lines. No capacity was however revealed.
Today GEM has an combined capacity for disassembly of EV batteries of 200,000 tonnes on pack level (around 130,000 tonnes on cell level). The move into LFP indicates that GEM will add LFP recycling to its operations.
The first six months in 2021 GEM reported revenues of 8 billion yuan (1.24Bn USD) with a profit of 537million yean (83 MUSD). Of the revenues 2.36 Bn yean (366 MUSD) came from recycling activities.