Tag: China Automotive Industry

Eve Energy Breaks Ground on Sodium-Ion Battery Campus
EV & Electric Cars, News

Eve Energy Breaks Ground on Sodium-Ion Battery Campus

Eve Energy, a leading Chinese battery manufacturer, has started construction of its new campus in Huizhou to develop and produce sodium-ion batteries. This ambitious project aims to integrate research, development, pilot production, and mass manufacturing all under one roof.Key TakeawaysEve Energy begins construction on a 90,000 square meter campus in Huizhou for sodium-ion batteries.The company plans to invest around $122 million and achieve an annual production capacity of 2 GWh by the end of this year.Once completed, the site will house a separate AI and robotics center covering 50,000 square meters.This new facility in Huizhou marks Eve Energy's commitment to advancing sodium-ion battery technology. With an estimated investment of one billion Yuan ($122 million), they're setting out to...
Changan Deepal Acquires Hyundai’s Chongqing Plant for $228M
Industry & Business, News

Changan Deepal Acquires Hyundai’s Chongqing Plant for $228M

In a significant move reshaping China’s automotive industry, EV Changan’s subsidiary, Deepal Automobile Technology Co., Ltd., has acquired the former Beijing Hyundai Motor Company plant in Chongqing. The deal involves a purchase price of around $228 million and marks an important step for domestic EV brands as they continue to expand their presence within the country.The sprawling facility originally broke ground back in 2015 with plans to produce up to 300,000 vehicles annually. However, it has been sitting idle since December 2021 following a series of unsuccessful sales attempts that saw the price drop from $517 million down to its final sale figure. Despite this, Deepal remains tight-lipped about immediate production plans for the factory but has hinted at future opportunities.Deepal's...