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Zhongyu Lithium Electricity: overtaking BYD via a new technology

The factory price of a lithium battery the size of an air-conditioner remote control can be as high as ¥300 to ¥400. Such batteries, still being pilot tested, have received orders worth approximately ¥100 million from photovoltaic enterprises and power supply companies, while a production line of such batteries can produce 250 million worth products a year at full capacity. On August 7, it was learned from Zhonyu Lithium Electricity Co. Ltd. that, in the coming 4 years, the company will set up 4 such production lines, with an annual production of 420 million amp/hour's lithium batteries of all kinds, an annual value of ¥5 billion. By 2025, the company expects to reach an annual production of ¥10 billion, ranking as one of the largest lithium battery production bases of the world, a first-grade supplier to the major users of the world, presenting a challenge to BYD.

Compared with traditional batteries, lithium batteries have the advantages of being small in size, light in weight, high in working voltage, long in life expectancy, pollution free and safe property, etc. With traditional battery gradually exiting from the stage, the industry of lithium battery is attracting a lot of investors.

It is learned that Zhongyu company uses the advanced lithium iron phosphate as the material of the positive pole of the battery optimized the structural design of the battery, using advanced conceptualization of design and the most updated Aqueous solution spraying technology, based on which to develop batteries of 20 amp/hour, 40 amp/hour and 100 amp/hour.

"From the purchase and installation of equipment in December last year to the research and development and pilot production of the first lithium battery this May, it took us only 6 months. Such speed is unheard of," said a person in charge of the company. They are racing against time to create the "Zhongyu Speed". Once production is formally begun, it will be a milestone in Ningbo's history of new energy development and new material application.

The company plans to invest a total amount of ¥1.8 billion in the whole project, ¥500 million for each of the first 2 years, ¥400 million for each of the following 2 years to purchase automated production lines from Japan and Germany and buy 200 mu of land to build their premise of operation and production and, at the same time, endeavor for the project to be listed into the state "863" project.

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