Battery

The project will be divided into two sub-projects, with the first sub-project of 12 GWH expected to start construction in October 2021.

Svolt Energy Technology, a subsidiary of Great Wall Motors, announced Sunday at the Chengdu Auto Show that its cobalt-free battery pack is being used in the Chery Cat, the first SUV from Great Wall Motors' Ora brand, and is in mass production.

Gotion's shares traded in Shanghai were up 3 percent in early trading on Monday.

On April 30, Nio signed a strategic cooperation agreement with the USTC to cooperate in technology research and talent training.

The popularity of micro cars in China, including the Wuling Hongguang Mini EV, has been rewarding for one power battery supplier.

Svolt Energy added several new shareholders on August 18, including Hubei Xiaomi Changjiang Industry Fund, backed by smartphone giant Xiaomi.

The company's business scope covers automotive parts development, artificial intelligence application software development, and new energy vehicle battery accessory sales.

The project has a total site area of 482 mu (321,300 square meters) and a new construction area of 480,000 square meters.

Car companies including Geely, WM Motor, Hozon Auto and Leap Motor have joined with battery companies to issue a statement calling for regulating the flow of used electric vehicle batteries.

The installed base of lithium iron phosphate batteries rose 235.5 percent in July, compared with a 67.5 percent increase for ternary batteries.