Shanghai (ZXZC)- On Mar. 17, EVE Energy celebrated the beginning of the operation at its 30th and 31th factories, which are located in Huizhou city, Guangdong province, according to a post on the Chinese battery maker’s WeChat account.

Involving an investment of over 3.1 billion yuan ($450.405 million) and covering an area of 176,000 square meters in total, the projects of the said two factories will focus on producing power batteries with a planned production capacity of 12.5GWh. They also target a yearly production value of over 9.6 billion yuan ($1.395 billion) and expect to serve 184,000 all-electric vehicles annually.

Photo credit: EVE Energy

To be specific, the 30th factory, which works on producing prismatic lithium-iron batteries, saw its groundbreaking take place in Dec. 2021 and construction completed in Dec. 2022. The 31th factory is built to manufacture prismatic ternary lithium batteries with its construction beginning in June 2022 and be fulfilled only eight months after the groundbreaking.

EVE Energy has already invested roughly 7 billion yuan ($1.017 billion) in building an “international new energy eco-industrial park” at the starting area of China-Korea (Huizhou) Industrial Park. Currently, the company’s 28th, 29th, 30th, and 31th plants at the location have already gone into operation, and relevant supporting factories are expected to start production in May this year.

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 ($1.453 billion) would be poured to build a new power and energy storage battery manufacturing base with an annual production capacity of 20GWh.

Besides, the company broke ground on its super factory in Jingmen city, Hubei province on Feb. 1, which features a designed annual battery production capacity of 60GWh.