Fengchao Energy to invest EUR2 billion to build battery plant in Europe
2019-07-10 16:18:35 [Print]
On July 9, Fengchao Energy Technology Co., Ltd. announced that it will invest EUR2 billion to build in Europe a power battery production base consisting of a 24GWH large-sized power battery plant, a matching cathode material plant and a battery technology center. Thus Fengchao Energy will be the third Chinese power battery company, following CATL and Farasis, to build a power battery plant in Europe.
The proposed power battery production base will have a total land area of 200 Mu (27 hectares) and will be built in two phases, with Phase One to going into construction in 2020 and to go into operation in 2022 and Phase Two to go into operation in 2025.
According to Fengchao Energy General Manager Yang Hongxin, by 2025 the company will contribute 100GWh capacity to the global power battery industry and 76GWh capacity to China, and will be capable to supply to major consumers from both in and out of China. At the same time, Fengchao Energy also lays down its global development strategy of building seven R&D centers (Baoding, Shanghai, Wuxi, South Korea, Japan, India and the U.S.) and six production bases (East China, North China, South China, West China, North America and Europe). By 2020, the company's R&D investment will be around RMB3 billion (USD436 million), and by 2025 its total investment into plant construction around the world will be over RMB26 billion (USD3,776 million).
The proposed power battery production base will have a total land area of 200 Mu (27 hectares) and will be built in two phases, with Phase One to going into construction in 2020 and to go into operation in 2022 and Phase Two to go into operation in 2025.
According to Fengchao Energy General Manager Yang Hongxin, by 2025 the company will contribute 100GWh capacity to the global power battery industry and 76GWh capacity to China, and will be capable to supply to major consumers from both in and out of China. At the same time, Fengchao Energy also lays down its global development strategy of building seven R&D centers (Baoding, Shanghai, Wuxi, South Korea, Japan, India and the U.S.) and six production bases (East China, North China, South China, West China, North America and Europe). By 2020, the company's R&D investment will be around RMB3 billion (USD436 million), and by 2025 its total investment into plant construction around the world will be over RMB26 billion (USD3,776 million).
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