Chinese automaker Geely has signed an agreement with the government of Ganzhou City, Jiangxi Province, to invest RMB 30 billion ($4.61 billion) in a power battery project with a design capacity of 42 GWh per year.

The first phase of the project will have an annual capacity of 12 GWh, with an investment of RMB 8.5 billion yuan and 500 mu of land (around 33.3 hectares).

The remaining 30GWh project will have an investment of RMB 21.5 billion and a site of 1,000 mu.

Ganzhou Mayor Xu Nanji said that the city will make every effort to promote the implementation of the agreed matters and provide the most favorable policies for the construction and operation of the project.

According to the 2020 sales figures released by Geely, Geely's new energy vehicle sales were 68,100 units, a sharp decline of 66% year-on-year.

In January and February 2021, Geely's total sales were 233,547 units. Among the new energy models, total sales of Geometry A, Geometry C, Dihao EV, Dihao GSe, and other new energy and electrification products in January and February were 6,828 units.

Geely's new energy car sales are lower than sales of other traditional car companies and lower than those of Nio, Leap Auto's.

CATL plans to invest up to $1.6 billion to expand its power battery production line

(Source: Gannan Daily)