Following plans announced in late June to build a US$2.4bil battery plant to supply French carmaker Renault in northern France, the Shanghai-based company declared in July it would make another investment of £423mil to build a gigafactory at the Sunderland manufacturing site in the United Kingdom.
Envision AESC, the battery unit of the Shanghai-based Envision Group, said the company aims to produce nine gigawatt-hours of batteries in 2024 and 24 GWh by 2030 in France. With three battery production bases located in Japan, the United States and the UK, Envision AESC is currently building its fourth production and research and development base in China’s Wuxi, Jiangsu province, with an estimated annual production capacity of up to 20 GWh.The lithium-ion batteries provided by the company to the global market have served more than 600,000 EVs worldwide without one single major battery accident, it said.
While EU businesses which have a strong presence in China are bullish about the Chinese market, Chinese business communities are equally optimistic about business opportunities in France.
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