On December 3, Zhejiang province’s largest foreign invested project—the Green Energy Storage Li-ion Battery Project—held an official launch ceremony. Dutch Li-ion battery company Lithium Werks has planned to invest 1.6 billion Euro in the facility, which will occupy 60 hectares. The project will consist of a new Li-ion battery factory and R&D center. Construction is planned to begin in 2019, and go into operation in early 2021. The factory will produce Li-ion batteries, modules, and battery management systems for use in energy storage, smart grids, and large-scale transportation equipment.
A cooperation agreement between Jiashan Economic Development Zone and Lithium Werks was signed on October 20. Lithium Werks is one of the world’s leading Li-ion battery manufacturers.