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BYD's 10 billion sodium battery project was approved

published: 2024-06-04 14:59

15GWh sodium-ion battery project of Huaihai Fudi Sodium Battery Technology (Xuzhou) Co., Ltd. was filed and approved by the Management Committee of Xuzhou Economic and Technological Development Zone.

As early as June 2023, Fudi Battery signed a strategic cooperation agreement with Huaihai Holdings Group. According to the agreement, the two parties will jointly build a sodium battery production base in Xuzhou Economic and Technological Development Zone in the form of a joint venture to jointly build the world's largest supplier of sodium electric systems for mini vehicles.
The two parties will expand the national and even global micro vehicle market demand with Xuzhou as the center. The base will be the center to sell sodium electric new energy storage products to Jiangsu, Shandong, Henan, and Anhui. Huaihai Group provides superior resources such as market and application scenarios, and Fudi Battery provides high-tech, high-quality, high-value products and high-quality system services.

On November 18 of the same year, Fudi and Huaihai Holdings Group officially signed an investment agreement for the sodium-ion battery production base project, with a planned total investment of 10 billion yuan and an annual production capacity of 30GWh.

On January 4 this year, the project started construction in Xuzhou Economic Development Zone, mainly producing sodium-ion battery cells and PACK and other related supporting products.

On April 30 this year, a joint venture between Fudi and Huaihai Group was established, named Huaihai Fudi Sodium Battery Technology (Xuzhou) Co., Ltd., which is the main body of the project. The registered capital of the joint venture is 500 million yuan, of which Fodi Battery holds 51% of the shares and Huaihai Group holds 49% of the shares, and its business scope includes battery manufacturing and sales, recycling of waste power batteries, etc.


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