Construction started on the lithium-ion battery production base of Sunwoda Electronic Co Ltd in the eastern expansion area of the Green Power Town in Yiwu, East China's Zhejiang province, on Dec 4.

The project attracted a total of 21.3 billion yuan ($3.06 billion) in investment, the most for a single manufacturing base in Yiwu. Construction on the first phase of the base is expected to be completed in May 2023.

The production base will cover over 1,300 mu (86.67 hectares) and include workshops, warehouses, a comprehensive office building and a dormitory building.

The factory is expected to produce 50 gigawatt-hours of new energy power batteries annually, including cells, modules, and battery systems for power batteries and energy storage batteries. Annual output will reach about 35 billion yuan.

The factory will be equipped with intelligent production equipment and automated production lines. It is expected to promote the development of the automobile manufacturing industrial chain in Yiwu and help the city become a national advanced manufacturing base for new energy vehicles and their core components.

Founded in Shenzhen, Guangdong province in 1997, Sunwoda is a high-tech enterprise involved in the research and development, design, production and sale of lithium-ion battery cells and modules. The company debuted on the Shenzhen Stock Exchange in 2011.