Chinese automaker, Geely, will invest about 3 billion yuan to build a new energy battery research institute in Jiaxing of Zhejiang province, which is expected to start operation within this year.
Jiaxing Daily reported that Geely Technology Group (Geely Tech) signed the agreement with the local government on April 29.
Located in the Xiuzhou Hi-tech Industrial Development Zone, the research institute will conduct research and development of battery cells, electricity generation systems, energy storage and the re-use of batteries.
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