[Photo/Dalian Free Trade Zone Administration Committee]
Construction of phase III of the Prime Planet Energy power battery project recently began in the Dalian Free Trade Zone in Jinpu New Area.
With a total investment of 1.15 billion yuan ($172.3 million), the project covers an area of 135,000 square kilometers in the new energy industrial park. It includes two plants and is expected to add over 2 billion yuan to the annual output value upon reaching full-capacity production.
[Photo/Dalian Free Trade Zone Administration Committee]
Prime Planet Energy Dalian Co Ltd, a China-Japan joint venture, focuses on high-quality power battery manufacturing and provides products to domestic leading hybrid car enterprises, including FAW Toyota, GAC Toyota, GAC Honda, Dongfeng Honda, Ford and Great Wall Motor.
Its phrase I project has reached a compound annual growth rate of 95 percent in industrial output value since 2018. The phase III project marks a new milestone in cooperation between the Dalian Free Trade Zone and Prime Planet Energy & Solutions Inc, and will enrich the Zone's cooperation with other RCEP members.
