China's Dynavolt Power Plans to Invest $81 Mln in Lithium-ion Battery Project

BEIJING (SMM): Guangdong Dynavolt Power Technology Co. plans to build a new lithium-ion battery project in Fujian’s Zhangzhou with total investment estimated at 500 million yuan ($81 million), the company said in a statement filed to the Shenzhen Stock Exchange today.

The project is designed to produce 100 million units of batteries used in electric vehicles per year, and will be built in two years.

Dynavolt Power turned to a profit in the first half of the year, by registering a 2.78-million-yuan net profit.

Courtesy: www.metal.com