China's Svolt to build battery plant in Sichuan

摘要

Chinese battery manufacturer Svolt Energy Technology plans to build a 20GWh/yr power battery plant in Suining city in southwest China's Sichuan province. Svolt will invest 7bn yuan ($1.08bn) to build the plant. Other details, including the launch dates and construction schedules, were undisclosed. The Chinese new energy vehicle (NEV) industry has been recovering from the impact of the Covid-19 pandemic since the second quarter of 2020. The government will continue to support the NEV industry this year, which may lift demand for power batteries in the long term and accelerate capacity expansions