The factory is located in the Fuling district of Chongqing city, southwest China. The plant will be used for R&D and manufacture of cells, modules and battery packs.
It takes about 24 months for the construction of the factory. This will be the second plant of the Geely and Farasis joint venture.
Geely and Farasis Energy want to encourage the expansion of the battery factory with a production target of 120 GWh per year. Geely and Farasis have not disclosed a target timeframe to reach a capacity of 120 GWh per year.
The battery market in China is dominated by CATL and BYD. Farasis Energy is still in the top 10 Chinese battery makers. Earlier this month, the company presented their latest technology, the “ultra-high-power” battery cell.