BEIJING - China's Ganfeng Lithium Group said on Friday its holding unit signed an agreement with a Turkish battery producer to set up a $500 million joint venture for lithium battery production.

Jiangxi Ganfeng Lithium Battery Technology and Turkish top lead-acid battery producer YİĞİT AKÜ plan to build a 5GWh-annum production lithium battery plant in Turkey, according to a filing Ganfeng filed to Shenzhen Stock Exchange.

(Reporting by Siyi Liu, Ella Cao and Mei Mei Chu; Editing by Alison Williams)