China's lithium iron phosphate production capacity and output have increased significantly, and the industry is ambitious to expand production

In 2023, China's lithium iron phosphate production capacity will be about 3.467 million tons/year, and its output will be about 1.566 million tons, up 45.1% and 36.1% year-on-year respectively. The overall industry operating rate is 45.2%, down 6.9 percentage points from 2022. By the end of 2023, China has nearly 65 lithium iron phosphate projects under construction and planned, with a total planned production capacity of more than 9 million tons/year.