SHANGHAI, Sep 18 (SMM) – Construction of a lithium-ion battery and system project began at Jincheng High-tech Industry Park in Jintan district, Jiangsu province on September 17.
Guangzhou Great Power Energy & Technology will invest some 5.8 billion yuan in the project. Its construction area is planned for 331,000 m², with an annual production capacity of 10Gwh lithium-ion batteries and 5Gwh lithium battery packs, SMM learned.
With the current shortage of high-end lithium battery capacity, the project will customise high-end production capacity. It will be constructed across three phases, the first of which will commence operation in June 2019. Annual sales revenue is expected at 10 billion yuan, SMM learned.