The Sokon Industry group owns Californian EV start-up SF Motors and plans now also to enter the market for batteries and other EV components. Part of the roadmap is also the installation of a 5.2 GWh battery plant.
Through upcoming subsidiary companies, the group wants to become an international supplier of batteries as well as electric drivetrains and electric control systems. The initiative involves eight projects, among them the installation of a battery plant in Chongqing with an annual capacity of 5.2 GWh. The factory shall be erected on 400,000 square meters, the group is said to invest more than 2bn yuan (approximately 306m dollars).
In summer, Sokon subsidiary SF Motors took over a former Hummer plant in South Bend, Indiana. It was the third acquisition in the States for the Chinese firm after it also set up shop in California as well as Michigan (we reported). While SF Motors is advised by Tesla co-founder Martin Eberhard, an actual electric vehicle has yet to emerge.