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Black Monday yet to affect China’s Li-ion investment projects

Fri, 08/28/2015 - 13:09 -- Paul Crompton
Black Monday yet to affect China’s Li-ion investment projects

The shock waves from China’s ‘Black Monday’ appear to have missed the country’s lithium-battery market as investment in the industry continues apace this week.

A strategic cooperation agreement has been signed between Aviation Industry Corporation of China (AVIC) and the government of Jiangsu province to focus on developing lithium batteries.

The green power source science park project will cost 12.5billion yuan ($1.95billion), reports the China Economic Information Service. Upon completion, it will manufacture 12billion Wh lithium-ion power batteries a year.

Earlier this month the announcement of two further investment projects brought China’s total up to 17 so far this year, calling for a total investment of 50 billion yuan (US$7.8 billion), reports Want China Times website.

China Aviation Lithium Battery, a subsidiary of Sichuan Chengfei Integration Technology, is to invest 1.45 billion yuan (US$227 million) to build a lithium-battery production line with an annual capacity of 1.5 billion watts, the report continued.

Prior to this, BYD announced a plan on June 3 to raise 6 billion yuan (US$940 million) for a lithium-ion battery project.