Construction of Farasis Energy ‘s manufacturing base in Zhenjiang, Jiangsu province, began on Friday October 26, Zhenjiang Daily reported.
With total investment of 15 billion yuan, the project will be implemented in two phases. After completion, annual production capacity of the automotive power battery will reach 20Gwh, which will likely meet demands of 400,000 new-energy vehicles per year.
The first phase of the project with an annual capacity of 16Gwh is expected to be completed in 2019 and commissioned in 2020.
This project was initiated jointly by Farasis Energy (Ganzhou), China Reform Holdings Corporation Limited and Zhenjiang New Area.