Jinlongyu Group to Invest CNY1.2 Billion in Solid-State Battery Factory in Shenzhen
Jinlongyu Group plans to invest CNY1.2 billion (USD170 million) to construct a solid-state battery factory in Shenzhen's Dapeng New District, aiming for an annual capacity of 2 GWh over two years. The company, which has been expanding its solid-state battery operations since 2021, recently secured an order for 100,000 units from a drone manufacturer and previously invested CNY1.2 billion in a materials production base in Huizhou. Their products are designed for use in drones, electric vehicles, and energy storage systems.
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Jinlongyu Group announced plans to invest CNY1.2 billion (USD170 million) to build a solid-state battery factory in Shenzhen's Dapeng New District with an annual capacity of 2 GWh. Construction will take about two years.
The company previously secured an order for 100,000 battery units from a drone manufacturer. Jinlongyu has been expanding into solid-state batteries since 2021 and made another CNY1.2 billion investment for a materials production base in Huizhou in April 2022. The firm showcased its solid-state battery products at the China International Battery Fair, applicable for drones, electric vehicles, and energy storage systems.
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