Hangzhou, China – U.S.-based lithium-ion energy company Ener1 has received approval from the Chinese government for a joint venture to manufacture lithium-ion batteries for the Chinese market.
Ener1 is partnering with Wanxiang Electric Vehicle Company to create a new company, Zhejiang Wanxiang Ener1 Power System Company. The joint venture will initially focus on fulfilling existing contracts with State Grid, the largest power supplier in China. These projects include providing lithium-ion battery systems for an electric bus project for the city of Qingdao, an electric car project for Hangzhou, and a grid energy storage system.
As capacity increases, it is anticipated that the joint venture will work with other existing customers such as SAIC Motor, Dongfeng Motor, Faw Haima Motor, Chang’an Automobile, Guangzhou Automobile and Yutong. The company is expected to have an annual capacity of approximately 40,000 electric vehicle battery packs by 2014.