Final preparations are taking place for Phase I of a new energy lithium-ion batteries and integrated storage plant – being funded by Shenghong Holding Group Co Ltd at a cost of 3 billion yuan ($418.83 million).
Located in the Taizhou Medical High-tech Zone, in Taizhou city in East China's Jiangsu province, it's expected to conduct trial production on June 30.
Shenghong Group plans to invest a total of 12 billion yuan in Taizhou in the complete complex, which at capacity is projected to generate annual sales of 25 billion yuan.
Shenghong Group is investing a total of 12 billion yuan in Taizhou for the complete new energy battery plant. [Photo/WeChat account: weigg6666]
The project is regarded as the first step for Shenghong Group to expand into the new energy sector.
It will adopt leading technologies such as pre lithification, intelligent sensing and multi terminal DC controls, to cover the full gamut of applications for new energy storage.
To accelerate the construction pace, a service team consisting of nearly 40 people was established to provide all-round services for the project.
The initial accommodation for the project team required 40 residential apartments. "As time is tight, it communicated with different parties to quickly deliver a plan and the delivery of internal fixtures and fittings was completed in only 20 days," said service staff member Zhou Rongyin.
New energy storage, as an important component of building a new power system, is seen as playing a significant role in promoting the national targets of carbon peak and carbon neutrality.