Shanghai (ZXZC)- On Feb. 1, Chinese power battery maker EVE Energy Co., Ltd. (“EVE Energy”) broke ground on its super factory in Jingmen city, Hubei province, which features a designed annual battery production capacity of 60GWh, according to a post on EVE Energy’s WeChat account.

Notably, the ground-breaking ceremony came only one day after EVE Power Co., Ltd. (“EVE Power”), a subsidiary of EVE Energy, signed a contract with the administration committee of Jingmen Hi-tech Industries Development Zone to build the 60GWh battery factory, with a total of 10.8 billion yuan ($1.606 billion) to be poured.

Photo credit: EVE Energy

EVE Energy said the new investment is conducive to expanding its production capacity of power & energy storage batteries, optimizing its industrial structure, providing customers with more products and solutions, and further promoting its development in the lithium-ion power battery market, as well as its influence and comprehensive competitiveness in the new energy vehicle industry.

The new super factory will work on the volume production of EVE Energy’s new-generation energy storage battery, the LF560K. Its supporting energy storage power plant will have a lower operating cost than that of the pumped storage power plant, meeting the demand of the energy storage market for a larger operation scale and economy effect.

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 ($2.469 billion).