Lishen Battery has Started Two Projects, the Investment Totalled over 20 Billion Yuan

SHANGHAI, Jun 30 (SMM) - On June 28, the groundbreaking ceremony for the R&D headquarters and production base of Lishen Power Battery with an investment of 11.2 billion yuan was held in Xishan District, Wuxi. It is reported that this project is divided into two parts, of which the headquarters is located in the Xishan economic development zone, with an investment of 1 billion yuan, which will serve as a supporting centre for the development and industrialisation of power batteries. After its completion, it will reach the national level of a power battery R&D centre. The production base is mainly located in Ehu Town, Xishan District, with an investment of 10.2 billion yuan. The project covers 685 mu, which is divided into three phases, with the planned annual production capacity of the power battery reaching 24GWh.

The construction of this project shows that Wuxi will focus on the development of industrial clusters and investment promotion to accelerate the development of the new energy industry and continuously improve the R&D and independent innovation capabilities of the city. At the same time, the cutting-edge development technology will also nourish a number of leading enterprises to build a new energy ecosystem.

On June 26, Lishen Binhai New Energy Industry Base also started in Binhai High-tech Zone. It is reported that the Lishen Industry Base will build a 24GWh power battery project, an expansion project of the lithium battery capacity and an R&D centre. The company will build a 24GWh power battery production base firstly, with an investment of more than 10 billion yuan. It will be implemented in three phases, and each phase will build 8GWh. It is expected that all the construction will be completed within four years after the start.

Tianjin Lishen Battery, founded in 1997, is a joint-stock high-tech enterprise engaged in the research, development, production and operation of lithium-ion batteries and power batteries, and has long been a leader in the lithium industry in the north China. In the early years, Lishen was as famous as BYD and ATL. With the increasing share of CATL in the market, Lishen experienced troughs. With the launch of two projects in three days, Lishen has demonstrated its determination to regain its leading role in the new energy industry. By 2025, Lishen will build production lines with an annual capacity of 125GWh, ranking among the top three in the supporting markets of international high-end consumer electronics products, and become the main supplier of new energy vehicles and energy storage markets.

The joint effort of the enterprise and the local government not only shows the keen outlook of the enterprise to the new energy market but also presents the city's judgement and selection of its advantages, frontier trends and development, and the breakthrough of its mature economy, which will be the key to opening up a new situation and seeking new development.