Frankfurt am Main/Nanjing, 6 July 2021 – SVOLT Energy Technology Co., Ltd. (SVOLT), a global high-tech company headquartered in China, signed an agreement with China’s Lishui Development Zone in Nanjing on June 22, 2021. The subject of the agreement is the construction of a battery production facility with a total capacity of 14.6 GWh and an investment sum equivalent to approximately 730 million Euros.
The project in Lishui will be divided into two phases: In the first phase, SVOLT is expected to invest approximately 340 million Euros to achieve a production capacity of 6.6 GWh. The second phase is expected to be followed by an investment of approximately 390 million Euros, with an increase in production capacity of 8 GWh. In this phase, the production area is expected to grow by approximately 23 hectares.
Relevant government officials from Jiangsu Province, Nanjing City and Lishui District, and other executives from both sides, including Hongxin Yang, President and General Manager of SVOLT, attended the signing ceremony.
Comprehensive strategy to expand battery capacity
SVOLT also plans to concentrate its production of pouch-format hybrid electric vehicle (HEV) batteries in the Lishui region. Overall, SVOLT has set itself the goal of achieving a total installed capacity of 200 GWh worldwide by 2025. The Lishui project is a significant step toward this goal and helps address the growing global demand for batteries for electric vehicles.
SVOLT has taken a leading role in providing manufacturing capacity on a global scale in recent years, focusing primarily on manufacturing sites in the three major regions of the Yangtze River Delta, South China and Southwest China, in addition to developing its European site in Saarland, Germany. In the first half of this year alone, SVOLT has invested in the construction of production bases and factories in Suining, Sichuan Province; Huzhou, Zhejiang Province; Ma’anshan, Anhui Province; and now Lishui, Nanjing.
Hongxin Yang, SVOLT President & General Manager: “SVOLT is currently in a crucial phase: We are expanding our production capacity and accelerating deliveries. The signing of the contract with Lishui District in Nanjing will further increase SVOLT’s production capacity, meet the increasing demand from customers, and also contribute to the development of the new energy industry and the local economy and society.”
Kai-Uwe Wollenhaupt, President of SVOLT Europe & Vice President of SVOLT Energy Technology: “I am pleased to see how SVOLT is successfully developing from a thriving high-tech company into a major global player in the industry.”