On January 24, BTR announced that the company intends to sign a cooperation agreement with the People's Government of Dali Bai Autonomous Prefecture and the People's Government of Xiangyun County in Yunnan, and plans to invest in building "200,000tpy lithium battery anode material integrated base project" in the Economic and Technological Development Zone of Xiangyun, Dali.

The announcement shows that the project will be constructed in three phases. The first phase of the project includes an integrated production line of lithium battery anode materials with an annual output of 50,000t. The planned construction period is 12 months and the estimated investment will reach RMB2.392 billion (USD378 million). The second-phase project plan includes the addition of an integrated production line for lithium battery anode materials with an annual output of 50,000t, and the third-phase project plan includes a new integrated production line for lithium battery anode materials with an annual production capacity of 100,000t.