China BAK Battery invest RMB 14.3 billion on new energy project

Shanghai (Gasgoo)- Jining municipal government signed a cooperative agreement with China BAK Battery for NEV project construction in Jining economic development zone on November 1st. Zhang Shengming, deputy mayor of Jining, said that the construction of BAK industrial park project in Jining economic development zone will bring in industrial upgrading for the city. The municipal government will keep promise and provide services to create the best environment for the project construction, to ensure the on-time construction and fast operation of the project.

Li Xiangqian, Chairman of BYK Battery, also expressed his confidence and expectation on the cooperation. He said that, BAK Battery is now growing into a NEV Group company which covers key battery, electric motor and electric control system technologies and products for buses and passenger vehicles. It will further make use of its advantages in new energy batteries to provide supports for developments of Jining high-end manufacturing industry. It’s expected that the two sides will make close contacts and implement the project construction, thus creating a win-win situation.

According to the agreement, BAK Battery will invest RMB 14.3 billion to construct an industrial park in Jining economic development zone, forming a NEV industrial cluster involving R&D, production, sales and recycling.