Wuhan Economic & Technological Development Zone (WHDZ) in Wuhan, Central China's Hubei province, is to add a new energy industry project following a cooperation agreement signed with Wuhan Zhongyuan Electronics Group Co on Jan 16, according to local media reports.
The project will see the construction of a lithium battery production line and a lithium battery system assembly line. These will form a production operation with an annual output of 3 billion watt hours of assorted lithium batteries and lithium battery systems.
Total investment in the project is 1.5 billion yuan ($231 million) and the construction period will be 36 months. After reaching its production capacity, the project is expected to achieve an annual operating income of 2 billion yuan.
In March 2020, Wuhan Zhongyuan Electronics Group Co launched a special equipment, new energy and application construction project in the development zone, with a focus on developing special lithium battery production lines, laboratories and trial production lines.
After reaching production capacity, this project will be capable of an annual production scale of 600 million Wh of various types of lithium batteries and systems.
The total investment in the project is 480 million yuan and the construction period will be 15 months.
On Jan 16, the special equipment, new energy and application construction project entered its trial production stage. It is expected to be put into operation in the first half of this year.
After reaching production capacity, annual operating income will be increased by 550 million yuan.
During the epidemic, with significant help from the local government, Wuhan Zhongyuan Electronics Group Co became the first batch of enterprises in Wuhan to resume work and production.
During the 14th Five-Year Plan period (2021-2025), WHDZ will turn its new energy industry into an engine to drive economic development. It will focus on the development of lithium power batteries and hydrogen fuel cells, striving to form a new energy industry cluster, generating an annual operating revenue of more than 100 billion yuan by 2025.
