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China EV battery plant gets off the ground

The Nanjing battery plant is scheduled for completion by the end of 2015 and will have an annual production capacity of more than 100,000 electric vehicles when completed by the end of 2015, will supply batteries to Chinese automakers like SAIC Motor Corp, Qoros and many other global carmakers in China.

LG Chem owns half of the joint venture while the other half is shared by two Chinese state-run companies – Nanjing Zijin Technology Incubation Special Park Construction Development Co Ltd and Nanjing New Industrial Investment Group Ltd. 

The Korean battery giant said it has been investing hundreds of millions of dollars into the factory and expects a total of 1 trillion won in revenue by 2020, just by the batteries produced in Nanjing.

Natalie Middleton

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