According to a press release by "Changde Economic Development Zone," on March 26, Changde Cospower New Energy Technology Co., Ltd. (referred to as Changde Cospower New Energy) 1.5GWh sodium-ion battery production line project started in Changde City, Hunan Province.

It is understood that Changde Cospower New Energy was established in Changde City, Hunan Province in 2019, as a wholly-owned subsidiary of Cospower Technology Co., Ltd.

Changde Cospower New Energy is a large-scale energy storage enterprise specializing in the production, research and development of lithium batteries. The company boasts an industry-leading fully automated LFP battery production line. Currently, the company's phase one and phase two projects, with a 2GWh production line, have been completed and put into operation, which is a leading enterprise in the new energy material industry now in Changde City, Hunan Province.

Sodium-ion battery is a product produced by new technology in the field of new energy energy storage. Compared to traditional lithium-ion batteries, they offer a lower cost , superior low-temperature performance, longer cycle life, better safety and broad market prospects. The newly initiated Changde Cospower New Energy 1.5GWh sodium-ion battery production line project is expected to be completed in July this year, with annual sales revenue exceeding 2 billion yuan and annual tax payment exceeding 50 million yuan.