With total investment of 68 billion yuan, Wangxiang Group’s lithium-ion battery base that will have 80GWh of battery manufacturing capacity started construction in Hangzhou of Zhejiang province on Monday March 25, autohome.com.cn reported.
This was one of the 20 key projects in the Wanxiang Innovation Energy City that began construction on the same day.
The Zhejiang-based multinational automotive components manufacturer announced in September 2016 that it will invest 200 billion yuan in five to seven years to build a smart city, called Wanxiang Innovation Energy City, in Hangzhou. The city will house up to 90,000 people within 8.42 km².
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