China’s Narada Power Source is to invest 97m yuan ($16m) to build a lead-acid battery plant in Hubei province.
Narada’s subsidiary Wuhan Narada New Energy will build the 10m kVAh new plant in Hubei’s Gedian Economic & Technological Development Zone. The factory will primarily manufacture VRLA batteries, as lead-carbon batteries for stop-start vehicle applications.
The facility will be built in two phases in four years. The first phase with capacity of 5m kVAh will be completed by June 2016, and construction of the second phase will be accomplished by June 2018.
Once fully operational, the project is expected to create 4.42 billion yuan in sales revenue, with annual profit at 350m yuan, according to Shanghai Metals Market.