May 20, 2025 | Shiyan, China — Wanrun New Energy Technology Co., Ltd. has announced a significant five-year agreement with Contemporary Amperex Technology Co. Limited (CATL), the world’s leading electric vehicle battery manufacturer. Under this contract, Wanrun will supply approximately 1.3231 million metric tons of lithium iron phosphate (LFP) cathode materials to CATL from May 1, 2025, through May 1, 2030.
This agreement marks one of the largest LFP supply deals in the industry to date. The annual average supply of 265,000 tons significantly surpasses Wanrun’s 2024 total LFP shipments of 228,200 tons, highlighting the company’s rapid growth and expanding production capabilities.
Financial analysts estimate the total value of the contract to exceed CNY 42.3 billion (approximately USD 5.8 billion), based on current market prices for LFP materials. This substantial order is expected to contribute an average of CNY 8.46 billion (USD 1.16 billion) in annual revenue for Wanrun, potentially accounting for over 100% of the company’s total revenue in 2024.
The agreement also includes provisions for technological collaboration. Wanrun and CATL plan to jointly develop and promote high-compaction-density LFP products, aiming to meet the evolving demands of advanced battery applications. This partnership underscores both companies’ commitment to innovation and sustainable growth in the energy storage sector.
Wanrun’s strategic focus on expanding its production capacity and enhancing product performance positions the company to play a pivotal role in the global transition to clean energy. The collaboration with CATL not only secures a stable demand for Wanrun’s LFP materials but also fosters a synergistic relationship that could drive further advancements in battery technology.
As the demand for electric vehicles and renewable energy storage solutions continues to rise, this landmark deal between Wanrun and CATL signifies a major step forward in strengthening the supply chain and promoting sustainable energy solutions worldwide.