Shanghai (Gasgoo)- SVOLT Energy Technology Co., Ltd. (SVOLT), a leading Chinese EV battery manufacturer carved out of Great Wall Motor, signed an agreement on Feb. 19 with the government of Huzhou, Zhejiang province to establish a power battery base in South Taihu New Area, Huzhou.
Under the agreement, SVOLT will pump 7 billion yuan ($1.079 billion) in the new base, which is designed to feature an annual capacity of 20GWh.
“SVOLT has been vigorously
pushing ahead with the investment in product R&D and construction of
new production lines. It has to-day deployed seven R&D hubs around
the world. Signing the agreement with South Taihu New Area marks an
important step for SVOLT's capacity expansion and realization of its
strategic goal,” said Yang Hongxin, president of SVOLT.
SVOLT signing agreement with Huzhou government; photo credit: SVOLT
Aside from the Huzhou base, SVOLT last month inked an agreement with Suining, Sichuan province to set up power battery manufacturing facilities with a capacity of 20GWh per year.
The EV battery maker endeavors to rapidly expand its capacity. According to Yang Hongxin, SVOLT expects its global capacity to reach 200GWh by 2025 from the current 100GWh.
SVOLT is emerging as a leading force for China's power battery industry by launching many innovative products and technologies. The company launched the “jelly battery” at the 2020 Battery Day held on Dec. 2, 2020, attempting to improve the battery quality through innovating in cathode and electrolyte material.
The “jelly battery” is part of the “Cold Bee” solution announced at the same time. The solution still contains a thermal barrier battery pack and an EV monitoring platform dubbed “Bee Cloud”.
Based on the cell of the “jelly battery”, the developer adopts such methods as pressure relief, eruption control, cooling, alarm and heat insulation to protect the battery pack, so as to prevent the risk of thermal runaway. That is how the thermal barrier battery pack works.
Moreover, SVOLT developed the “Bee Cloud” platform which had monitored over 90,000 EVs and analyzed more than 1.6 billion data.
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