Battery cell manufacturer SVOLT has laid the foundation stone for a new battery factory in China. The factory in Yancheng in the Chinese province of Jiangsu is scheduled to go into operation in the first half of 2023 and will have an annual capacity of 22.3 gigawatt-hours.
The laying of the foundation stone in Yancheng comes around two months after the company signed a corresponding contract with the local government. This provides for an investment of ten billion yuan (about 1.4 billion euros) to build on a 582,000 square metre plot of land.
SVOLT has just officially confirmed its intention to increase its global production capacity to 600 GWh by 2025 and unveiled a new LFP battery. The company calls this a “short blade” battery. At the presentation, SVOLT president Hongxin Yang announced that the company would build its own 20 GWh factory for these cells.
According to the CN EV Post, this is likely to be the new factory in Yancheng. The portal writes that the factory is to become the “core production base for the company’s PHEV batteries and short-blade cells”.
The ‘SV 600’ strategy with a huge expansion of production capacities is already in full swing: In September it was announced that SVOLT will build a new battery factory in Chengdu, the capital of Sichuan province. The first phase will comprise 20 GWh, and in the third phase the total will be 60 GWh. A research centre is also planned there.
Another research and development centre has just gone into operation in Shanghai. However, SVOLT does not want to research battery cells and chemical compositions there, but primarily develop new software. This involves, for example, the battery management system, industrial software for manufacturing plants, controls for intelligent devices and AI algorithms.
Last February, SVOLT announced two new plants in China, one in Huzhou in the Chinese province of Zhejiang and the other in Suining in Sichuan province, each with a capacity of 20 GWh. In June, another factory was announced in the city of Nanjing in the Chinese province of Jiangsu; this plant is to have a capacity of 14.6 GWh.
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