Solid-state battery technology has been gaining prevalence as an increasing number of electric vehicle industry players bet on its promised high energy density quality. One of these companies is China’s Jiangxi Judian New Energy Technology Co Ltd.
The Chinese company reportedly began developing its new solid-state lithium battery factory in Ganzhou on August 8. Notably, it expects the project to hit an annual production output of 10 GWh once it becomes operational.
The announcement came from the company’s biggest shareholder, Shenzhen Fuxin Industrial Technology Co Ltd. For context, Shenzhen Fuxin is also an energy storage system supplier.
It declared on Tuesday that the project’s valuation is RMB 10 billion ($1.3 billion), which will fund the development of the new battery factory.
As noted in the announcement, it will oversee the production of the company’s solid-state battery cells. It will also house the manufacturing of battery packs and energy storage systems.
Jiangxi Judian aims to pursue the project development by dividing it into two phases. The project’s first phase will access a total fund of RMB 1.68 billion. The company expects the initial operation to generate 2 GWh of solid-state battery cells and 2 GWh of battery pack systems per year.
Unfortunately, the company did not yet reveal key details of its self-developed solid-state batteries.
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As we all know, electric vehicles mostly utilize traditional li-ion batteries up until today. However, they have lower energy density than solid-state batteries. They are also more prone to fire risks due to their liquid chemistry.
Therefore, it is unsurprising that many companies are now exploring new battery technology to address these gaps. Jiangxi Judian’s project will undoubtedly advance its position in the industry.