A signing ceremony held in Hailing Industrial Park in Hailing district of Taizhou, East China's Jiangsu province, on June 12 marked the settlement of a new lithium battery automated production factory in the area.
With a total investment of 550 million yuan ($76.85 million), the project will build three intelligent lithium battery equipment production lines. When put into operation, annual invoiced sales will hit 800 million yuan and tax payments will reach 25 million yuan.
Shenzhen Mid-Sky Concord Automation Co Ltd, which specializes in the production of intermediate process equipment for the new energy sector, is the investor. It also serves as a supplier to leading domestic enterprises like Huawei, Vision Group and HEC Group.
With strong research and development capabilities in the manufacturing of power lithium batteries and non-standard equipment, the company aims to become a first-class expert in new energy automation production.