Global lithium-ion battery maker CATL is extending its joint venture partnership with lead-acid UPS manufacturer Shenzhen Kstar Science & Technology by building new production lines at their battery manufacturing facilities in China.
The joint venture (JV) will focus on energy storage system power conditioning systems (PCS), battery packs— including UPS-integrated lithium-ion battery packs, residential energy storage battery packs and packs for small-to-medium lithium-ion batteries of nonstandard size— and charging stations.
The $150 million project will start with an initial investment of $60 million.
The project will add two production lines for energy storage PCS equipment, two production lines for charging, and a production line of energy storage packs at two factories in the north and south of Xiapu Economic Development Zone.
After completion of the first phase of the north district project, the annual output of energy storage will be1GWH, 12,000 sets of EV charging piles.
In April, 2019, Kstar invested RMB98 ($14 billion, at today’s exchange rate) to set up a joint venture with CATL. Kstar has a 49% stake in the JV.