China Sun Group High-Tech Co., which through its wholly-owned subsidiary Dalian Xinyang High-Tech Development Co. Ltd (”DLX”) has the second largest cobalt series production capacity in the People’s Republic of China, announced that its R&D, engineering and technical team has successfully completed testing on the companyâ€™s latest energy power battery anode material, lithium iron phosphate.
Bin Wang, CEO of China Sun Group, stated, “DLX was pleased to have cooperated with three major domestic power battery production companies, two from Shenzhen and the other from Changxing, Zhejiang province, on this project. We are currently testing the stability and cycle curve of the battery, and are procuring the raw material to begin operations. We believe we are on schedule to commence full scale production of lithium iron phosphate in early April 2009.”
He continued, “We believe an immediate market opportunity exists for the lithium iron phosphate product to be used as an electrode material in automotive lithium-ion batteries. We believe that the safety, economical and environmental benefits of this new product, as compared to the lithium cobalt oxide, can provide DLX with a competitive advantage to achieve continuous growth within a challenging economic environment.”
Earlier last year, DLX announced it had completed trial production of lithium iron phosphate and successfully met the technical requirements of application after being tested by a PRC state authority. Two months later, the China Brand Promoting Authority accredited DLX’s “Tong Tong” branded lithium iron phosphate with the titles “Priority Choice of Government Procurement” and “Key Promoting Product of High-Tech Industry.”