Battery giant Contemporary Amperex Technology (CATL) has broken ground on a 50GWh lithium-ion battery production base in Yichun, east China’s Jiangxi Province.
The first phase of the project involves an investment of 13.5 billion yuan ($2.1 billion) and is a cornerstone of the Yichun city’s plans to develop itself into a sustainable lithium-ion battery hub in Asia.
The plant is part of CATL’s wider plans for increasing its energy storage presence.
On 22 October, CATL signed a strategic cooperation agreement with state-controlled power generation company China Huadian to jointly develop energy storage, new energy, and integrated smart energy projects, reported Argus Media.
The firms had previously agreed to build a 100/200MWh lithium-ion energy storage project in Tengzhou in east China's Shandong province— however, further details have not yet been released.
In October, the firm also signed an agreement with state-owned mining and energy comany China Energy Investment Corporation (China Energy) to strengthen their partnership on new energy storage technology system and application scenarios.