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Geely plows RMB8 bln in new power battery base in Hubei

Monika From Gasgoo| September 10 , 2018

Geely new battery power base, Blue Geely Initiative, China automotive news

Shanghai (Gasgoo)- Geely's new power battery base has settled in Jingzhou, Hubei province in recent days, according to local media. Involving a total investment of RMB8 billion, the new base might be put into operation in 2020, equipped with such facilities as production line and R&D center of batteries and battery modules, office building as well as logistics distribution center.

It is rumored that Geely Auto is going to build a NEV plant with an annual capacity of 200,000 NEVs in Wuhan, the capital of Hubei Province. With the Jingzhou power battery base starting construction, the automaker took another step forward for its NEV ambition.

In November 2015, Geely Auto Group's announced its new energy initiative, Blue Geely, which will see Geely move from focusing on traditional combustion engine technologies to concentrating entirely on new energy vehicle sales and development. The strategy said that Geely will have 90% of total sales consist of NEV sales by 2020 and meet and exceed Chinese government fuel directives to bring average fuel consumption to 5L per 100km by 2020.

Over the past three years, Geely has built 6 NEV plants in Zhejiang, Sichuan, Shaanxi provinces, plowing a huge amount of money in those NEV programs.

Apart from the expansion of NEV plants, Geely is also cultivating its own power battery businesses. In April, 2017, the company wholly acquired the manufacturing facilities in LG Chem's Nanjing plant and obtained the legal right to use the seller's manufacturing technologies. In addition, both parties agreed future cooperation that allowed the South Korean company to help Geely Auto upgrade its battery technologies.

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