Ucan Lithium plans to invest $290 million in Indonesia to build a lithium battery project.

Wulian Lithium Announces that the 15th meeting of the 7th Board of Directors of the company has approved the "Proposal on Investment in Lithium Battery Projects in Indonesia", agreeing to invest in the construction of lithium battery projects in Indonesia with a total planned investment of 290 million US dollars, and establishing a new 5GWh cylindrical lithium battery manufacturing project. After the project is fully completed and put into production, it is expected to have an annual production capacity of 5GWh for various types of lithium batteries such as 21700.