300 million! A new company in Fuyang, Anhui has started a project with an annual production capacity of 2GWh for power and energy storage batteries.

According to the Investment Promotion Bureau of the Fuyang Economic Development Zone in Anhui, on May 23, Anhui Shihao New Energy Technology Co., Ltd. held a groundbreaking ceremony for its project with an annual production capacity of 2GWh of lithium-ion motive power and energy storage batteries. It is reported that the total investment for this project is 300 million yuan, planned to be constructed in two phases. The first phase will invest 150 million yuan to build a production line with an annual capacity of 1GWh of lithium-ion motive power batteries, which is expected to be completed and put into operation by the end of 2024. Information shows that Anhui Shihao New Energy Technology Co., Ltd. is a company established in April this year, focusing on the research and development, production, and sales of new energy lithium-ion motive power batteries and energy storage batteries.