A rendering of the lithium battery plant funded by Tianneng Battery Group Co Ltd. [Photo/WeChat account:huzhoufau]

A total of 50 projects with a combined 65.11 billion yuan ($10 billion) in investment started construction in Huzhou, East China's Zhejiang province, on March 17, according to local media reports.

One of the projects is a lithium battery plant funded by Tianneng Battery Group Co Ltd.

The plant has received a total of 10 billion yuan in investment and spans an area of 822 mu (54.8 hectares). It will have an annual capacity of 1.5 billion watt-hours of lithium batteries.

Tianneng headquartered in Huzhou is a leading motive battery solution provider in China's new energy market. It primarily specializes in the R&D, production, and sale of new energy vehicle lithium batteries, automobile start-stop batteries, and storage batteries for wind and solar energy.

Another project is a boiler plant invested by Zhejiang Luji Boiler Co Ltd.

The plant, with an estimated 2 billion yuan in investment, covers a total area of 432.8 mu and has 454,000 square meters of floor space.

It is expected to churn out 3,000 industrial ultra-low nitrogen gas steam boilers annually.

The projects also include an intelligent manufacturing plant for auto parts invested by Zhejiang Hengli Metal Technology Co Ltd.

The plant, which will cost 2.27 billion yuan to build, covers a total area of 300 mu and will have an annual production capacity of 400,000 metric tons of auto parts.