Farasis Energy intends to build 30GWh EV battery production base in Ganzhou

Shanghai (Gasgoo)- Chinese power battery manufacturer Farasis Energy announced earlier this week it intended to sign a letter of intent with the Management Committee of Ganzhou Economic & Technological Development Zone for the construction of a new electric vehicle ("EV") battery manufacturing base with an annual production capacity of 30GWh in Ganzhou city, Jiangxi province.

According to the company's announcement, the Ganzhou battery base will be constructed in two phases. Under the first phase, facilities will be built to manufacture NCM pouch-cell power batteries with a production capacity of 18GWh annually. The rest 12GWh is planned for the second phase, while the products to be made are still pending the market situation and purchase orders from clients.

Photo credit: Farasis Energy

Under the coordination of the Management Committee of Ganzhou Economic & Technological Development Zone, relevant authorities would purchase and use new energy vehicles equipped with Farasis Energy's batteries, and allow the battery manufacturer to conduct some energy storage projects in priority.

Moreover, within 30 days after signing the official investment cooperation agreement, Farasis Energy should build in the Ganzhou Economic & Technological Development Zone a project company qualified as a separate legal entity, which will manage the construction works of the aforesaid battery manufacturing base.