A rendering of BYD's new energy battery plant in Yongjia county, Wenzhou, East China's Zhejiang province. [Photo/WeChat account: wenzhoufabu]
Twenty-nine projects with investments totaling 75.5 billion yuan ($10.96 billion) started construction in Wenzhou, a coastal city in East China's Zhejiang province, on Feb 21.
The projects focused on fields such as advanced manufacturing, transportation infrastructure, new energy and energy supplies.
One project has attracted more than 10 billion yuan in investment, with five others each receiving more than 5 billion yuan in investments and seven receiving over 3 billion yuan. A total of 12.3 billion yuan will be spent on projects this year.
The new energy battery project of BYD, a Chinese flagship EV maker, was a highlight among the projects.
The 6.5-billion-yuan manufacturing base was designed with a production capacity of 20 GWh-worth of new energy batteries annually. It is also expected to generate sales revenue of 16 billion yuan per year, along with offering more than 6,000 jobs. The first production line is planned to be put into operation next year.
The new base is expected to help Wenzhou amplify its advantages in the battery industrial chain and shape its image as a demonstration area for the manufacturing and application of new energy products.
