(Yicai) Sept. 27 -- Chinese lithium-ion battery material supplier XTC New Energy Materials will build a CNY4 billion (USD542 million) ternary lithium-ion battery cathode material plant in France with local nuclear power producer Orano.

XTC New Energy Materials Europe and Orano's battery and battery resources recycling unit Orano Cam will set up a joint venture with a registered capital of EUR20 million (USD21.1 million) that will be responsible for the construction and operation of the plant, Xiamen-based XTC announced yesterday.

XTC New Energy Materials Europe will indirectly own 51 percent of the JV and Orano Cam the remaining 49 percent.

The JV plant will be able to produce 40,000 tons of cathode materials for lithium-ion batteries per year in Dunkirk, France, to meet the rising needs of European and North American clients, XTC noted.

The first phase of the project, with an annual capacity of 20,000 tons, is expected to be completed and launch trial production in the fourth quarter of 2025. The remaining capacity will likely be completed in the third quarter of 2027.

Orano Cam can provide the project with rich local raw materials resources and production and management experience to ensure smooth construction and production, XTC added.

XTC's shares [SHA: 688778] were trading up 0.6 percent at CNY43.21 (USD5.91) as of 10.00 a.m. in Shanghai today.

Editor: Futura Costaglione