China Dynavolt Power Invests $ 0.45 Bln in Lithium-ion Battery Project

SHANGHAI, Jun. 30 (SMM) – Guangdong Dynavolt Power Technology Co. invested more than 3 billion yuan ( $ 0.45 billion) in lithium-ion battery project in Fujian’s Zhangzhou, news.sina.com reported.

The project is scheduled to have an annual capacity of 60 Gwh of lithium-ion batteries used in electric vehicles. The project covers an area of 299,572 m² and will be constructed in three pahses. The first phase is expected to yield 1.5 billion yuan output value with investment of 750 million yuan. The second and third phases will post above 6 billion yuan output value with investment of 2.25 billion yuan.

The first phase is running trail production at present and the first batch of products are expected to be ready for sales in Q3 this year.

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