The coastal city of Xiamen, East China's Fujian province, has agreed to deepen cooperation with China Lithium Battery Technology Company (CALB) in lithium battery production, according to a news conference on June 10.
CALB is a high-tech enterprise specializing in the R&D (research and development), production and sale of batteries for new energy vehicles (NEVs). It signed an agreement with Xiamen last year to develop a lithium-ion battery production line costing 10 billion yuan ($1.41 billion).
The production line is expected to have an annual capacity of 20 gigawatt-hours and will help Xiamen form a complete industrial cluster for the NEV industry.
Hu Changsheng, Party secretary of Xiamen, said that the city has made the development of the NEV industry its top priority. In recent years, Xiamen has introduced a number of upstream and downstream firms involved in the NEV industry, transforming it into a hub for NEV enterprises.
Hu added that Xiamen will continue offering more favorable policies to attract more investment and high-level talent in the NEV industry.
Liu Jingyu, president of CALB, said that the company will increase R&D input and work to accelerate the sustainable development of the NEV industry.