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Tramway News: On August 26, Tianneng Battery Group Co., Ltd. announced that it planned to invest 3.97 billion yuan to increase the output of 10GWh lithium iron phosphate battery. The project is implemented by its subsidiary Tianneng New Energy (Huzhou) Co., Ltd., located in the South the Taihu Lake New Area of Huzhou, and will be constructed in two phases. The first phase is planned to invest 1.128 billion yuan; The second phase plans to invest 2.845 billion yuan.

The construction site of Phase I project is XSS-03-03-05A plot of Xifengyang unit, South the Taihu Lake New Area, Huzhou, covering an area of about 177 mu. It is expected that the construction period will be 12 months, and new battery cells and PACK production lines will be built, forming an annual output of 3GWh lithium iron phosphate battery after reaching the capacity.

The construction site of the second phase project is XSS-03-03-04B plot, Xifengyang unit, South the Taihu Lake New Area, Huzhou, covering an area of about 265 mu, with an expected construction period of 30 months. It is a new project, which will generate an annual output of 7GWh lithium iron phosphate battery.

Tianneng shares said that the implementation of the project will accelerate the implementation of the company's development strategy, accelerate the company's production distribution of lithium iron phosphate battery, improve market share and enhance the company's competitiveness. After the project is completed, the production of related products of the company will expand, which is conducive to improving the company's cost reduction, efficiency increase, and sustained profitability. The company has established a stable market system and good brand influence, which is conducive to the market promotion and sales of the products involved in this investment project, continuously improving the market share of the company's products, and enhancing the company's business scale and core competitiveness.

It is understood that Tianneng Co., Ltd. is a leading company in the field of lead-acid lithium-ion battery storage. It was listed on the Science and Technology Innovation Board on January 18th this year. Lithium batteries belong to the strategic emerging sector of Tianneng Group. With the gradual release of Tianneng's lithium battery production, it can form a "lead lithium synergy" effect with batteries, meet the diverse and multi scenario needs of customers, and greatly improve the company's operational efficiency.

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