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SK On has initiated a 3GWh energy storage system production line for lithium iron phosphate (LFP) batteries in South Korea, contributing to a national capacity goal of 138GWh by 2038. Meanwhile, Wanhua Chemical plans a RMB 2.51 billion investment for a Phase II project to produce 200,000 tons of LFP annually, and BYD has launched new phases of its battery production base in Zhejiang with an investment of RMB 11 billion aimed at achieving 30GWh capacity. Additionally, Gotion High-Tech is developing projects for cathode and silicon-carbon anode materials, while Xinfa Group's subsidiary has begun trial operations for an LFP production line for BYD.