Wanhua Chemical's 10 billion yuan project starts construction

A few days ago, Shandong Province held an on-site promotion meeting for the construction of major high-quality development projects in the province in the spring of 2024. A total of 1,007 projects in the province participated in this centralized start-up event.

Lihua Power Technology's 25GWh large cylindrical energy storage battery project located in Huangbohai New District, Yantai City is also part of this start-up event. The project is constructed by Chinese LIGOO(Shandong)New Energy Technology Co., Ltd and Wanhua Chemical, in conjunction with Yantai Lihua Power Technology.

The project has a total investment of 10 billion yuan. It will build a new fully automatic energy storage battery production line and focus on the production of "46 diameter series" large cylindrical batteries. The project has fully broken through the core technology and completed sample batch preparation, and has the technical foundation and expansion capabilities to rapidly scale up industrialization and seize the high-end market.

This project will lead the battery low-temperature performance, energy density, thermal runaway management, etc of China. After completion and production, it is expected to achieve an annual output value of 15 billion yuan and a profit and tax of 2 billion yuan.