A rending of the factory with an annual capacity of 10,000 metric tons of fluorinated new energy materials that broke ground in Linhai, a county-level city in Taizhou, East China's Zhejiang province on Aug 27. [Photo/taizhou.com.cn]

A factory with an annual capacity of 10,000 metric tons of fluorinated new energy materials broke ground in Linhai, a county-level city in Taizhou, East China's Zhejiang province on Aug 27.

The factory spans 220 mu (14.67 hectares) and represents a 660-million-yuan ($101.54 million) investment by Zhejiang Furuida New Material Co Ltd.

Scheduled to become operational by the end of August 2023, the project is expected to generate an annual output value of 2.1 billion yuan.

Furuida New Material is a subsidiary of Zhejiang Yongtai Technology Co Ltd, which announced on March 11 that it will invest over 10 billion yuan to build a lithium-ion battery materials industrial park in Linhai.

Yongtai is a national high-tech enterprise specializing in the R&D, production and sales of fluorine chemicals that are mainly used in the medicine, pesticides and new energy materials sectors.