Dynavolt Power to Commission First Phase Lithium Battery Capacity in Q3 2016

SHANGHAI, Apr. 5 (SMM) – Guangdong Dynavolt Power Technology Co. will put online its first phase 100 million pieces/yr lithium battery production line in the third quarter of 2016, news.china.com.cn reported.

The company targets building 400 million pieces/yr 18650 lithium battery plant in Fujian this year. The company also proposed to raise funds by no more than 1.5 billion yuan ($0.23 billion) through issuance of shares. The funds will be mainly used in lithium battery projects and adding liquidity to its subsidiaries.

The company achieved 550 million yuan in business revenues in 2015, a year-on-year rise of 12.73%. Of the revenues, lead-acid battery business claimed 462 million yuan, down 5.08% YoY while lithium battery business increased to 78.42 million yuan. 

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