Does wanrun technology have energy storage themes

Who is wanrun new energy?

Wanrun New Energy (688275.SH) manufactures new energy materials. The company's new materials are offered along with precursors for lithium-ion battery cathode materials. The company was founded in 2010 and is based in Shiyan, Hubei.

Is wanrun a Chinese battery company?

Wanrun’s expansion into the U.S. market mirrors similar ventures by other major Chinese battery firms, such as EVE Energy, which began constructing an LFP battery plant in Mississippi earlier this year. Wanrun's shipments of LFP materials increased by 24% year-on-year in the first half of 2023, reaching 78,000 tons.

Could wanrun's US facility help expand global LFP batteries?

As international interest in LFP batteries grows, Wanrun’s U.S. facility could play a pivotal role in expanding the technology’s global footprint. Wanrun, a leading Chinese firm, plans to build a $167.6 million LFP battery plant in South Carolina by 2028 amid geopolitical tensions.

Does wanrun have a subsidiary in South Carolina?

Wanrun has already established a subsidiary, Wrestore Technology, in South Carolina to facilitate the venture. This move aligns with a growing trend among Chinese companies to invest in overseas markets due to mounting geopolitical tensions and restrictions on materials produced in China.

How long does it take to build wanrun?

The construction is anticipated to take 30 months, and the first phase will include a 9,000-ton capacity. Wanrun has already established a subsidiary, Wrestore Technology, in South Carolina to facilitate the venture.

How did wanrun perform in the first half of 2023?

Wanrun's shipments of LFP materials increased by 24% year-on-year in the first half of 2023, reaching 78,000 tons. The company’s strong partnerships with industry leaders like CATL, BYD, and Gotion High-Tech position it well for continued growth.