US KORE Power lithium battery project canceled

According to foreign media reports, KORE Power has canceled its plan to invest $1 billion to build a lithium-ion battery factory in Buckeye, Arizona, USA. The original planned factory covers an area of ​​2 million square feet and mainly produces nickel cobalt manganese (NCM) and lithium iron phosphate (LFP) cells for the production of electric vehicle batteries and energy storage systems. It is planned to start commercial production at the end of 2024 or early 2025, with an initial annual production capacity of 6GWh, which may be expanded to 12GWh in the future.