Formosa Mitsui Advanced Chemicals Co. (FMAC), a joint venture of Mitsui Chemicals and Formosa Plastics Corp., has completed the expansion of the production facility for electrolyte solution for lithium-ion batteries in Ningbo, China.
The capacity expansion aims to support the growing demand in China, as electric and hybrid vehicles gain prominence in the country.
According to a Mitsui press release, the market for lithium-ion batteries is growing in line with the rising demand for laptops, smartphones and tablets.
The company said it expected the market to expand further, mainly in China, as plug-in hybrid vehicles and electric vehicles (EVs) with smaller environmental footprints will come into widespread use.
The 50/50 Formosa Mitsui Advanced Chemicals JV was set up in 2013 and commercial operations started in July 2016.
In December 2016, shortly after the launch of the operation, the JV announced a capacity expansion to increase production from 1,500 tonnes per annum to 2,000 tonnes.
The new capacity came online in November, according to Mitsui.