Costing 3.2 billion yuan ($444.97 million), new Phase IV high-rate lithium battery research and production lines to be operated by Jiangsu Sunpower, located in the Taixing Huangqiao Economic Development Zone, Taixing city, Jiangsu province, are due to start up in June.
Recognized as a major provincial-level project, the new production lines will be capable of producing 300 batteries per minute to serve globally renowned brand customers.
A worker checks equipment at the factory run by Jiangsu Sunpower. [Photo/WeChat account: gh_07a864197818]
Wang Xianjin, production director of Jiangsu Sunpower, said his company has continued to increase R&D investment in optimizing resistance-based charging and discharging technology into inverter-based charging and discharging, in a bid to improve battery charging and discharging efficiency and to achieve energy recovery and reuse.
Wang added that his company had overcome challenges in battery life, self discharge and safety to develop high-rate power lithium batteries such as its products with 2.0Ah capacity and 2.5Ah capacity.
The self discharge loss is controlled within 1 percent per month, reaching the advanced international level.
Since 2016, the company's net profit margin has been steadily rising, exceeding 100 million yuan in 2016, 200 million yuan in 2017 and 300 million yuan in 2018. Its net profit last year hit 1.65 billion yuan, achieving a leading level in its field.