Construction of a large power battery project began on December 11 in Guangzhou, the capital of Guangdong province, to help facilitate development of the new energy vehicle industry in the city.
Plants of the power battery project, currently the largest of its kind in the city, will be delivered in October next year, according to GAC Aion, a new energy vehicle manufacturer based in Guangzhou.
The project, with an investment of 10.9 billion yuan (US$ 1.56 billion) and an area of about 44.4 hectares, will be engaged in battery research and development, design, intelligent manufacturing and sales and services, according to the company.
By 2025, the project will meet the installation demand of 600,000 new energy vehicles, with an annual output value exceeding 21 billion yuan, the company said.
Construction of the project would help build a core competitiveness in power battery and an industrial chain for new energy vehicles for GAC Aion, according to Gu Huinan, president of the company.
"The project has filled the gap in research and the production of the power battery industry in Guangzhou, becoming part of an important support system for the construction of the energy ecological industrial chain in the city," said Gu.
The production capacity of new energy vehicles in Guangzhou is expected to exceed 2 million in 2025, becoming one of the top three producers of new energy vehicles in the country.
Source: China Daily