Signing ceremony for the smart battery manufacturing base. [Photo/Wuxi Daily]
A groundbreaking ceremony for a smart battery manufacturing base worth 10 billion yuan ($1.37 billion) was held in Wuxi, East China's Jiangsu province, on Sept 26.
The manufacturing base, funded by FAW Jiefang Automotive Co and Envision Group, will be engaged in the R&D and production of power batteries for trucks and energy storage-related products.
The base's annual production capacity base is designed to reach 20 GWh and its annual sales revenue is expected to total 24 billion yuan after reaching its full production capacity.
Groundbreaking ceremony for the smart battery manufacturing base. [Photo/Wuxi Daily]
Liu Yigong, deputy general manager of FAW Jiefang, said that Wuxi is a great partner with innovative vitality, sound industrial ecology, and a favorable business environment.
He added that the company will strengthen the base's technological innovation to develop it into a world-class supplier of batteries for commercial vehicles and to contribute to the development of the new energy vehicle industry in Wuxi and around the country.
FAW Jiefang also started building its Wuxi R&D base, which has received a total investment of 420 million yuan, on the same day.
