Shenzhen Exencell New Energy Technology will invest 10 billion yuan ($1.4 billion) into an 18GWh energy storage battery project in Zhuhai's Jinwan District, according to the agreement signed by the company and related Zhuhai parties.

Covering a total area of 500 mu (82 acres), the project will generate an annual industrial output value of 14.4 billion yuan ($2.1 billion) upon operation. As one of Zhuhai's industrial pillar projects and the first of Jinwan's projects in 2023 with investment over 10 billion yuan, this project is expected to accelerate the development of Zhuhai's energy storage battery and new energy industries.

Gree Group and State-owned Zhuhai Liangang Investment will both participate in the project's investment and construction processes. Phase I of the project includes a 9GWh energy storage battery production line, which is scheduled to begin operation in one year.

Shenzhen Exencell New Energy Technology is a high-tech enterprise that focuses on the research and development, manufacturing, and sales of new energy lithium ion batteries and sodium ion batteries. Its operation revenue in 2025 is expected to exceed 10 billion yuan. 

Project rendering [Photo courtesy WeChat account: zhuhaijinwan]