Yunnan province is poised for a thriving new energy battery industry, aiming to achieve 100 billion yuan($15.69 billion) in output in the following three years and to shape its capital Kunming into a national leading base for the sector.
Yunnan recently rolled out a three-year action plan to develop its lithium-ion battery industry, leveraging its abundant reserves of lithium ore and phosphate rock.
According to the plan, industrial clusters in cities including Kunming, Qujing and Yuxi will support each other to form complete chains by 2024. Their products are expected to gain an expanding market and achieve 100 billion yuan output value.
The innovation ability is expected to reach the national advanced level and the province foresees a number of provincial key laboratories and engineering research centers and a national new energy battery industry research institute.
In terms of cultivating market entities and key project construction, the local government supports companies to pursue highly specialized areas and lead in niche sectors. It also promotes the digital, intelligent and green transformation of new energy battery enterprises.
The plan also includes supporting measures in terms of financing, government services, talents and others to make sure the industry reaches its goals.
