Toyota Tsusho Completes Construction of Japan's First Lithium Hydroxide Production Plant in Naraha-machi, Fukushima
~ Responding to Growing Demand for Lithium-Ion Batteries ~
Toyota Tsusho Corporation ("Toyota Tsusho") announced today the completion of construction of Japan's first lithium hydroxide production plant in Naraha-machi, Fukushima Prefecture, by Toyotsu Lithium Corporation ("Toyotsu Lithium"), a group company of Toyota Tsusho.
Lithium hydroxide is a raw material for cathodes used in automotive lithium-ion batteries, and with the accelerated popularization of electric vehicles and improved battery performance, demand for lithium hydroxide is expected to grow even more, creating a need for a stable supply.
In 2014, Toyota Tsusho, together with Allkem Limited (former Orocobre Limited), began producing lithium carbonate, at Sales de Jujuy, a lithium production site in Salar de Olaroz, Argentina. Subsequently, we established Toyotsu Lithium in 2018 to provide not only lithium carbonate but also a stable supply of high-quality lithium hydroxide to domestic and overseas manufacturers, and were working on the construction of the first lithium hydroxide production plant in Japan.
The plant will process lithium carbonate produced at Sales de Jujuy into lithium hydroxide. It has a production capacity of 10,000 tons/year, which will be sold to manufacturers in Japan and overseas through Toyota Tsusho Material Incorporated, a Toyotsu Group company, not only for automotive rechargeable batteries, but for other industrial purposes.
The plant will first undergo trial operations to confirm that product quality meets certain requirements before moving on to full-scale operations. While our immediate focus will be on stable production and safe operation of the plant, in order to meet the expectations of the rapidly growing lithium-ion battery market, we will also consider expanding production capacity and overseas expansion in the future.
The Toyota Tsusho Group will accelerate its efforts to achieve carbon neutral and to reduce CO2 emissions by supplying the lithium hydroxide required for the increasing number of lithium-ion batteries with the shift to electric vehicles.
This project is also eligible for the Subsidy Program for Industrial Location and Job Creation to Support Independence and a Return to Recovering Areas, from the Ministry of Economy, Trade and Industry, and will contribute to the revitalization of the local economy and the recovery of industries in the affected areas, with the cooperation of the Ministry and Fukushima Prefecture.
Overview of Toyotsu Lithium Corporation
|Toyotsu Lithium Corporation
|1-40 Nakamaru, Yamadaoka, Naraha-machi, Futaba-gun, Fukushima
Allkem Limited 75%, Toyota Tsusho 25%
|Manufacture and sale of lithium hydroxide
The information in this release is current as of the date of announcement.
Please note that information may change after the date of announcement. Thank you in advance for your understanding.