China Lithium Battery Technology Co (CALB) is to set up an electric power battery and energy storage battery base at Wuhan Economic & Technological Development Zone (WHDZ) in Wuhan, Central China's Hubei province, following an investment agreement signed on May 31.
The total investment in the project will be 10 billion yuan ($1.57 billion), and the first-phase production capacity will reach 20 gigawatt hours.
After the project is settled, it will build a production and sales base for power batteries and energy storage batteries, driving upstream and downstream industry chain companies to settle nearby. The products will support domestic and foreign new energy vehicles and energy storage markets and other application fields.
CALB is a high-tech enterprise specializing in the R&D, production, sales and market application of lithium batteries and battery materials, BMS, energy storage batteries and related integrated products. It is dedicated to providing global customers with complete product solutions and impeccable life cycle services.
According to first quarter global power battery installed capacity data, released by international authorities in 2021, CALB ranked seventh in the world. In China, it was second only to Contemporary Amperex Technology and BYD Group.
