Recently, the Dutch battery manufacturer “Lithium WerKs BV” decided to build a battery factory and set up a research and development base in the Yangtze River Delta region of China. Its investment is 1.6 billion euros, or about 12.7 billion yuan. At noon on October 16 local time, Premier Li Keqiang and Dutch Prime Minister Lut witnessed and signed the cooperation agreement.

Dutch battery manufacturing company Lithium WerKs BV (picture from the network)

Due to the current outbreak of China's electric market, China has become the world leader in the production and sales of electric vehicles, of which electric vehicles account for nearly half of global sales. It is precisely because of this that many foreign manufacturers want to invest in China, the Dutch battery manufacturer Lithium WerKs BV decided to establish a large lithium-ion battery factory in China to meet the growing demand for electric vehicle batteries.

Premier Li Keqiang and Dutch Prime Minister Lut (picture from the Internet)

It is reported that Lithium WerKs BV and China Zhejiang Jiashan Economic and Technological Development Zone Industrial Co., Ltd. have signed a framework agreement to cooperate in the construction of a 60-hectare battery super factory in the Yangtze River Delta. The project will invest 1.6 billion euros (about 12.7 billion yuan), and the plant capacity will reach 8GWh, which is equivalent to the battery capacity of 160,000 electric vehicles. The factory is expected to start production in early 2021. Lithium Werks BV will provide 20% equity funds and the remaining funds will be raised from China's bank financing projects.

Lithium WerKs BV, a Dutch company specializing in the development and production of new energy lithium-ion batteries, has established offices in the US, the Netherlands, Northern Ireland, the UK and Norway, and supplies batteries, modules and battery management systems to multiple markets. For example, materials processing, stationary energy storage, medical and commercial shipping markets.