Guiyang to develop power cell sector worth 100b yuan

Guiyang city – capital of Southwest China's Guizhou province – has reportedly redoubled efforts to promote and support projects in the new energy power cell industry, which is projected to be a sector worth 100 billion yuan ($15.1 billion) in 2025.

Guizhou Hangsheng Lithium Energy Technology Co is a high-tech firm specializing in the research and production of liquid electrolytes for lithium cells. It has funded a power cell project in Xifeng county, with the first phase involving capital expenditure of 380 million yuan.

The company has dedicated research teams that have developed cost-effective products, as well as one-on-one services and customized application solutions.

According to the 14th five-year plan (2021-25) for the industrial development of new energy vehicles, issued by the Guizhou Department of Industry and Information Technology in November last year, the province will introduce a range of measures. It will give full play to its car production capacity and relatively complete support facilities, create more innovation platforms for research, and accelerate the demonstration and application of hydrogen-fueled vehicles and intelligent connected vehicles.

"Guiyang will seize this historical opportunity to cultivate its power cell industry into a 100 billion-yuan business," said an official from Guiyang's bureau of investment promotion.