China’s SVOLT to build 60GWh power battery manufacturing base in Chengdu
Shanghai (Gasgoo)- On Sept. 16, SVOLT Energy Technology Co., Ltd. (SVOLT), a leading Chinese battery manufacturer carved out of Great Wall Motor (GWM), entered into a strategic cooperation agreement with Chengdu Municipal Government to build a power battery manufacturing and R&D base in the capital of Sichuan Province.
SVOLT, Chengdu Municipal Government sigining agreement; photo credit: SVOLT
Located in Jianzhou New Town of eastern Chengdu, the battery production and R&D base will involve a total investment of 22 billion yuan ($3.421 billion) and cover an area of 2,500 mu (1.67 million square meters), according to SVOLT. Upon completion of the construction, the facility is expected to have an annual battery capacity of 60GWh.
The project will be carried out in three phases. It is planned to plow around 10 billion yuan ($1.555 billion) in the first phase, which will cover an area of 767 mu (around 511,000 square meters).
The company said the Chengdu site is the largest-ever power battery manufacturing base it has planned in Sichuan province in terms of both investment value and planned capacity, and will play a vital role in SVOLT's capacity deployment.
On March 29, SVOLT broke ground on its power battery production factory in Suining, another city in Sichuan province. The project involves 7.1 billion yuan ($1.104 billion) worth of investment and is set to have an annual capacity of 20GWh.
SVLOT aims to reach a production capacity of 200 GWh in 2025. So far this year, it has launched the capacity expansion plans involving 150GWh.
Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:email@example.comSeller Service:firstname.lastname@example.org