Shanghai (ZXZC)- China Lithium Battery Technology Co., Ltd. (CALB) signed two investment agreements this week for the plans to build power battery and energy storage system manufacturing bases in Guangzhou and Jiangmen cities of Guangdong provinces, which will add 100GWh per year of total production capacity for the battery maker.

Under the agreement signed with the government of Huadu district of Guangzhou city, CALB's Guangzhou base is designed to feature a yearly manufacturing capacity of 50GWh with main products including power batteries and energy storage system. It will be the megacity’s first large-scale power battery manufacturing project.

CALB, Jiangmen municipal government; photo credit: CALB

CALB's Jiangmen manufacturing base will have 50GWh of annual capacity as well. The company said the Jiangmen facility will help the city develop a full industrial chain for new energy and intelligent vehicles and build a professional lithium power battery industrial park.

Prior to the latest signing ceremonies, CALB had deployed six battery manufacturing bases in China, which locate in Changzhou, Luoyang, Xiamen, Chengdu, Wuhan, and Hefei.

The power battery manufacturer is ambitious to hit an annual power battery production capacity of 500GWh by 2025 and 1TWh by 2030, the company's Chairman Liu Jingyu said in last November at a corporate strategy launching ceremony.

For the year of 2021, CALB recorded an annual power battery installed capacity of 9.05GWh, accounting for 5.9% of the country’s totals and ranking third among Chinese power battery makers, according to the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).