Plyontech, Chinese manufacturer for batteries and energy storge systems, held a ceremony in the Feixi Economic Development Zone on October 13 to celebrate the groundbreaking of a battery manufacturing base. The Feixi Economic Development Zone is part of Hefei, the capital of China’s Anhui Province. Plyontech has invested RMB 5 billion in the manufacturing base, which is set to have a production capacity of 10GWh per year for Li-ion battery products. The base will comprise production lines for battery cells, assembly lines for whole battery systems, an R&D center, and supporting facilities.
The base will be built in two phases, with 5GWh being set up for each. The first phase will formally begin construction this December and is scheduled for completion in February 2023. Once the first phase is up and running, the second phase will be initiated and is scheduled for completion in April 2025.
The base will also serve as Pylontech’s regional HQ in Anhui. Pylontech said that once the whole base is set up and in operation, it will be the company’s top manufacturing site in terms of production capacity and the company’s most well-rounded manufacturing site in terms of processing technologies. Pylontech added that the base will create 5,000 local jobs.
Pylontech is a holding subsidiary of ZTE and focuses on the development and manufacturing of Li-ion batteries. Currently, Pylontech has bases in Yangzhou (Jiangsu Province), Kunshan (Jiangsu Pronvice), and Huangshi (Hubei Province). The two bases in Jiangsu produces cells, while the base in Hubei produces whole battery systems.
Pylontech’s solutions have been adopted for power electric systems (generation, distribution, and dispatch), mobile network base stations, and data centers. In MWh terms, the company’s sales for the first half of this year came to 1,209.08MWh, showing a year-on-year increase of 145.45%.
Pylontech already became the supplier to China Telecom and China Unicom for LFP batteries in 2012. Then, in 2013, the company expanded into the European market for residential energy storage systems. Currently, Pylontech has established long-term business relations with Segen in the UK, Krannich in Germany, Neoom in Austria, etc. It is also cultivating other major regional markets such as North America and Africa. Thanks to the boom in the market for energy storage solutions, Pylontech has been posting impressive financial results. For the first half of this year, the company’s realized revenue totaled RMB 1.854 billion, showing a very high year-on-year growth rate of 172%. Its profit attributable to parent company for the same period reached RMB 264 million, showing a year-on-year growth rate of 70%.
This article is a translation of a Chinese article posted by TrendForce. It contains information that is either sourced from other news outlets or accessible in the public domain. Some Chinese names are transcribed into English using Hanyu Pinyin.