Shanghai (ZXZC)- On Feb.7, EVE Energy signed an agreement to launch a power & energy storage battery production project in Chengdu city, the capital of China’s Sichuan province, according to “Chengdu Fabu”, the WeChat account of Chengdu's government.

Under the project, around 10 billion yuan ($1.475 billion) will be poured to build a new power and energy storage battery manufacturing base with an annual production capacity of 20GWh.

Photo credit: Chengdu Fabu

Located in Jianyang, county-level city under the administration of Chengdu, EVE Energy's new factory will work on producing such products as consumer batteries, power batteries, energy storage batteries, battery packs, and other products.

The latest move marks a further investment in Chengdu. EVE Energy stated last April that it intended to plow 20 billion yuan ($2.95 billion) in a 50GWh battery production base in Longquanyi district, Chengdu city, of which construction of the first phase (20GWh) kicked off on July 30, 2022.

EVE Energy is fast-tracking its battery production capacity expansion. Aside from the recent Chengdu-based project, EVE Energy on Feb. 1 broke ground on its super factory in Jingmen city, Hubei province, which features a designed annual battery production capacity of 60GWh.

The new super factory will work on the volume production of EVE Energy’s new-generation energy storage battery, the LF560K.

While celebrating the construction beginning, EVE Energy’s sixth-to-ninth battery bases in Jingmen city, which feature a combined production capacity of 73GWh power & energy storage batteries, were put into operation as well. They involve a total investment of 16.6 billion yuan ($2.449 billion).