China-based electric vehicle (EV) battery material manufacturer Sunrise New Energy has announced its plans to build a carbon nanotube plant in the US by next year.

The project involves a 35,000m² main facility alongside more than a hundred manufacturing and testing equipment units.

The plant is anticipated to have an annual output capacity of 720 tonnes.

Upon reaching its full production capacity, the factory is projected to produce approximately $70m in annual revenue.

Carbon nanotubes, a conductive additive, are important auxiliary materials in the production of lithium-ion batteries as they boost the conductivity of electrode sheets when combined with cathode and anode materials.

As compared to standard conductive additives that include carbon black, nanotubes comprise a new type of material that creates a more extensive network of linear connections between active materials.

Sunrise anticipates that developing a carbon nanotube facility in the US will boost its position as a leading maker of EV battery materials. Following its board's approval, the details of the building's plan will be revealed.

Earlier this month, the company announced the conclusion of construction in Zone B of its facility in Guizhou, China.

Zone B, spanning an area of 128,000m², comprises 20,400m² of production facilities and 1,800m² of office space.