The Chinese supplier Wanxiang Group is investing about 10 billion dollars to build two factories in Hangzhou – one to produce electric vehicles, and another to build batteries worth an incredible 80 GWh. Plans also include a R&D centre.
The battery factory will be built on a 160 hectare area, according to local media reports, and will have an impressive 80 GWh annual capacity, once it is completed.
Wanxiang is also building a “smart city” in Hangzhou, for an investment price of about 30 billion dollars. It will be named Wanxiang Innovation Energy Fusion City, and will house up to 90,000 people on an 8.4 km² area when it is set to complete in five to seven years.