GWM-backed SVOLT launches 182.6GWh battery capacity expansion plans so far this year
SVOLT, a Chinese EV power battery manufacturer carved out of Great Wall Motor (GWM), for the first time appeared on the list of the global top 10 EV battery manufacturers by monthly power battery installation capacity in August, according to the data from the market research firm SNE Research.
SVOLT said cracking the global top 10 was mainly thanks to SVOLT's vigorous efforts to expand battery capacity and strengthen R&D capability. Up until now, it has launched capacity expansion plans of over 200GWh.
According to the data announced by SVOLT and complied by Gasgoo, the battery manufacturer released battery capacity plans amounting to 182.6GWh during the first ten months of 2021.
SVOLT signing agreement for Chengdu project; photo credit: SVOLT
80GWh of the total capacity increase announced this year will be in Southwest China's Sichuan province with 29 billion yuan ($4.534 billion) worth of investment involved. Notably, the project for Chengdu was the biggest one signed so far this year in terms of both planned battery capacity and investment value.
Yang Hongxin, chairman and CEO of SVOLT, said the company was long regarding the construction and development of its Southwestern China base, especially in the core province Sichuan, as an important part of SVOLT's global capacity deployment. The decision to build the Chengdu battery manufacturing base flowed from local attractive merits, such as the strong support of resources, talents, policies, the mature industrial deployment, abundant NEV application scenarios, and the broad market where NEVs are widely used there.
Regarding resources, Sichuan province has launched many projects for the deployment of material and components indispensable to battery production, including lithium mineral, cathode & anode materials, electrolyte, and membrane. Besides, there are ample budget hydropower resources which can help lower the battery manufacturing cost and reduce carbon emissions during the production process.
The market influence from the Chengdu base, as well as the Suining project signed in Jan., is able to radiate all over the Southwestern China. In addition, both cities play important roles in the export to Europe.
SVOLT also launched two new projects in Jiangsu province, one of which was to be carried out in Changzhou, where the company is headquartered and its first battery factory is located.
Including the newly-signed project, the battery capacity expansion plans launched for Changzhou have already involved a total investment of 23 billion yuan ($3.6 billion), the biggest volume SVOLT has ever plowed in a city.
Besides, the project launched in Ma'anshan will yield Anhui province's first base integrating the production and R&D of power battery cells and packs. In Huzhou, Zhejiang province, SVOLT broke ground on a battery manufacturing factory in mid-August, as part of the agreement it inked with local government in February.
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