The groundbreaking ceremony for Guiyang Binai New Energy Technology Co's 10-gigawatt hour lithium battery and pack production line construction project was held in the Guizhou Shuanglong Airport Economic Zone on Sept 16.
Guiyang Binai New Energy Technology Co will build a complete new energy power battery industrial chain system over the course of 5-10 years.
The groundbreaking ceremony for a lithium battery project is held in the Guizhou Shuanglong Airport Economic Zone on Sept 16. [Photo/sl.gov.cn]
With a total investment of 5 billion yuan ($773.02 million), the lithium battery project will be developed in three phases. The planned land area of the project's core area is about 490 mu (32.67 hectares).
The project is expected to begin operating in October 2022 with an average annual operating income of more than 6 billion yuan and annual tax revenue of 188 million yuan. It is expected to create more than 1,000 jobs.
The project will make up for the shortcomings and weak links in the Shuanglong economic zone's new energy automobile industrial chain, promote the reform and innovation of the zone, and help the zone achieve high-quality economic development.