Construction of nine major projects with a total investment of 29.46 billion yuan ($4.55 billion) began in the Wuhan Economic & Technological Development Zone (WHDZ) in Wuhan, Central China's Hubei province, following a launch ceremony held on July 31.
The projects are in fields such as scientific and technological innovation, automobile manufacturing, biomedicine, and people's livelihood.
Among them, there are five advanced manufacturing projects with a total investment of 21.33 billion yuan, two modern service industry projects with a total investment of 7.77 billion yuan, and two undisclosed projects with a total investment of 360 million yuan.
China Lithium Battery Technology Co (CALB) is to set up an electric power battery and energy storage battery base in the WHDZ, with the total investment amounting to 10 billion yuan.
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, energy storage markets and other applicable fields.
Lotus Technology's global headquarters project has a total investment of 6.3 billion yuan.
The project is mainly designed to develop Lotus Technology's global operations and management headquarters, take responsibility for supply chain management, and head global marketing and R&D design of Lotus' pure intelligent electric models in China.
