Shandong province in China’s eastern region announced on Monday its ambitious initiative to inject 100 billion yuan ($13.8 billion) into expanding its lithium battery industry by next year, according to a government notice.
The development strategy aims to build a robust industrial chain encompassing electrode materials, electrolytes, battery cells, and assembly facilities.
Focus areas include enhancing the quality and performance of consumer batteries while intensifying efforts in research and development.
To support this endeavor, the provincial government plans to nurture companies in Jinan and Qingdao involved in raw material production and battery assembly, tailored to meet the demands of local new energy vehicle manufacturers.
Additional support will be directed towards cities such as Zaozhuang and Jining to bolster lithium battery manufacturing and energy storage projects.
