Shenzhen Dynanonic Co. Ltd., a leading Chinese battery materials producer, has entered into a joint venture with ICL, a global specialty minerals company, to establish a lithium-ion battery plant in northeast Spain. The project, with an initial investment of €285 million, will be located in Sallent, Catalonia, on the site of a former potash production plant. Shenzhen Dynanonic will hold a 20% stake, while ICL will control 80%, with potential adjustments for future investments.
The facility, spanning 100,000 square meters, will be the first in the region to produce lithium iron phosphate for electric battery cathodes—a critical component for electric vehicles. The strategic location near the Port of Barcelona and rail connections to France will facilitate efficient distribution across Europe, meeting the growing demand for lithium-ion batteries fueled by the expansion of the EV market.
Ren Wangbao, vice president of Shenzhen Dynanonic, highlighted the venture’s alignment with the company’s mission to lead in new energy material solutions. The plant will not only strengthen Shenzhen Dynanonic’s European presence but also enhance its ability to supply core battery materials for electric vehicles and energy storage systems.
Phil Brown, president of ICL’s Phosphate Solutions Division, emphasized the importance of lithium iron phosphate in Europe’s energy transition, describing it as a “critical solution for the future.” The Catalan regional government welcomed the initiative, with Miquel Samper, the region’s business minister, praising its potential to create quality jobs and accelerate the green transition.
