On December 2, Lopal Tech announced that its indirectly controlled subsidiary, LBM New Energy, has entered into a Long-Term Procurement Agreement with Sunwoda Automotive Energy Technology (Thailand).
Under the agreement, the subsidiary will supply a total of 106,800 tonnes of LFP cathode materials to Sunwoda between 2026 and 2030. The total contract value is estimated to be between $6.36 billion and $7.77 billion (US).
Sunwoda, established in 2024, serves as the implementing entity for Sunwoda’s lithium battery plant project in Thailand. The first phase of its Thailand project has completed overseas investment registration and commenced trial production. To meet growing overseas market demand, Sunwoda announced the launch of the second phase of the Thailand project in October this year, with an investment not exceeding $482 million (US) and a planned capacity of 17.4 GWh.
Lopal Tech stated that the signing of this agreement helps establish stable cooperative relationships with downstream partners and ensures steady product sales. If the contract is successfully executed, it will have a positive impact on the company’s future performance.
Lopal Tech is the first lithium battery enterprise in China to establish a 10,000-ton-level LFP cathode material plant overseas. Currently, the first phase of its Indonesia project, with 30,000 tons of LFP cathode material capacity, commenced production in early 2025 and has achieved volume production and shipments to overseas customers’ factories, maintaining a high capacity utilization rate. The second phase of LBM’s Indonesia project, with 90,000 tons of capacity, is in the final stages of construction and is expected to complete building and equipment commissioning by the end of this year, with formal production set to begin in February 2026, providing capacity support for overseas order fulfillment.
Since 2025, Lopal Tech has continued to advance overseas order cooperation. In January, the company entered into a long-term supply agreement with Blue Oval, part of the Ford Group, covering the period from 2026 to 2030. In June, it signed a procurement agreement with a subsidiary of Eve Energy, committing to supply 152,000 tons of LFP cathode materials between 2026 and 2030, with a total contract value exceeding $712 million (US). In September, Lopal Tech signed a cooperation agreement with CATL to supply 157,500 tons of products to its overseas factories from the second quarter of 2026 to 2031, with expected total sales exceeding $854 million (US).
To date, Lopal Tech Technology has established long-term partnerships with industry leaders such as LGES, CATL, and Eve Energy.
In terms of technology R&D, Lopal Tech is advancing the development and industrialization of high-end LFP cathode materials, with a focus on high-density products. The company’s fourth-generation high-density products have obtained certification from multiple leading customers and achieved stable supply. These products utilize a single sintering process, offering distinct advantages in production efficiency, energy consumption control, and product performance. In 2026, the company plans to increase the shipment proportion of such products to further enhance market competitiveness.
Source: WeChat Official Account——高工锂电
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