China's Geely to add $5 billion battery plant in EV push

China's Geely to add $5 billion battery plant in EV push

Today·2021-03-15 20:02

BEIJING - Geely said on Monday it would build an electric vehicle battery factory with a planned annual manufacturing capacity of 42 gigawatt hours (GWh) in China's eastern city of Ganzhou, as it expands its EV line-up in the world's biggest car market.

The total investment in the project by Geely's technology arm will be 30 billion yuan ($4.61 billion), according to a separate statement from the local government. Geely's technology group has previously invested in Ganzhou-based EV battery maker Farasis.

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