Shanghai (Gasgoo)- CATL on July 21 announced plans to invest up to 14 billion yuan ($2.069 billion) in building a new electric battery system manufacturing base in Jining City, Shandong Province.
The battery giant intends to set up a wholly-owned subsidiary in Jining City as an entity that manages the implementation of the project.
Photo credit: CATL
According to CATL’s announcement, the Jining-based facility will have production lines for electric battery systems and energy storage systems, covering an area of about 2,000 mu (about 1.333 million square meters). . Construction is expected to be completed within 24 months of groundbreaking.
The company did not disclose the production capacity of the new base.
In line with the company’s strategic development planning, the investment in the Jining manufacturing base will not only help to further improve CATL’s production capacity deployment, but also meet its future business expansion demands. and commercial, CATL said.
On the same day, CATL signed a framework agreement with the Shandong provincial government and an investment agreement with the Jining municipal government, as all parties will work together to build a low-carbon recycling economy. environmentally friendly as well as a new energy vehicle (“NEV”) industrial cluster with global influence.
As part of the cooperation with the city of Jining, CATL plans to deploy its battery exchange network in the city.