The ground-break ceremony for the lithium ion battery factory funded by Tianjin EV Energies Co Ltd is held in Changxing county, Huzhou on Oct 23. [Photo/WeChat account: huzhoufabu]

The lithium ion battery factory funded by Tianjin EV Energies Co Ltd in Changxing county, Huzhou started construction on Oct 23.

Tianjin EV Energies Co Ltd, short for JEVE, was established in 2009 with a registered capital of 913.7 million yuan ($140.5 million) from main investors including Shanghai Fosun High Technology (Group) Co Ltd, Shaanxi Coal and Chemical Industry Group Co Ltd and Yueda Automobile Development Co Ltd.

Headquartered in Tianjin, the company focuses on new energy power and energy storage, and aims to provide green, safe and intelligent new energy solutions for the world.

The company currently has four production bases located in Tianjin, Yancheng, Jiaxing and Changxing (under construction).

With an investment of about 6.7 billion yuan, the Changxing factory is scheduled to be put into use in early 2023 and have an annual production capacity of 18 GW and an estimated annual output value of about 9 billion yuan. 

The ground-breaking ceremony for the factory was part of the Huzhou Changxing International Investment and Trade Fair, which kicked off on the same day.

The fair witnessed the signing of 33 investment deals in fields such as intelligent vehicles and key components, high-end equipment and new materials. These deals have a combined value of 41.27 billion yuan.