New-energy vehicles in a factory in Jinzhong, North China's Shanxi Province on September 7, 2022 Photo: VCG

China-based XTC New Energy Materials said in a filing on Monday that it plans to set up a joint venture with France's Orano, to focus on battery innovation and production in northern French port city of Dunkirk.
 
According to the filing, the joint venture will produce cathode material and precursors.
 
The expected investment is 1.5 billion euros (11.33 billion yuan) and the venture will create 1,700 jobs, Reuters reported on Friday, citing French President Emmanuel Macron.

XTC New Energy Materials is now engaged in the research and development, production and sales of cathode materials for lithium-ion batteries.
 
"(The XTC/Orano JV) will allow us to secure the top end of the value chain in lithium batteries production," President Macron said.
 
Recently, Chinese companies engaged in lithium batteries have moved to expand their overseas footprint.
 
Last week, EVE Energy announced two offshore developments. The company on May 9 announced the purchase of land in Debrecen, Hungary, with plans to build a battery factory, producing large cylindrical batteries there. It was followed by an announcement on Friday, where the company said its wholly subsidiary plans to buy land from PKL to build a lithium battery plant in Malaysia.
 
In addressing its overseas presence at its recent 2022 earnings presentation, EVE Energy said that after years of development, the company's battery products have become highly competitive internationally and are supplying in bulk to overseas customers.
 
On April 4, CATL's first overseas factory in Thuringia, Germany, officially obtained the battery production license.