Wanxiang and Ener1 Joint Venture to Focus on Energy Storage Solutions for EVs and Utility Grid Applications
Ener1, Inc. and Wanxiang Electric Vehicle Co., Ltd., a division of the Chinese conglomerate Wanxiang Group Corporation, announced that they have received approval from the Chinese government for their joint venture to co-manufacture lithium-ion energy storage systems for the China market.
The new company – Zhejiang Wanxiang Ener1 Power System Co., Ltd. – will initially focus on fulfilling existing contracts with State Grid, which is the largest power supplier in China. These projects include providing lithium-ion battery systems for a pure electric bus project for the city of Qingdao, a pure electric car project for the city of Hangzhou, as well as a grid energy storage system. As capacity increases, it is anticipated the joint venture will work with other existing customers, such as SAIC Motor, Dongfeng Motor, Faw Haima Motor, Chang’an Automobile, Guangzhou Automobile and Yutong. The joint enterprise is expected to achieve annual cell manufacturing capacity of 300 million Ampere hours (approximately 40,000 electric vehicle battery packs) annually by 2014.
"Wanxiang has built strong and deep customer relationships throughout China," said Dr. Lu Guanqiu, founder and chairman of Wanxiang Group. "We are pleased that we have found such a technologically-advanced business partner like Ener1 to help us produce battery systems for our transportation and power grid customers."
"We’re pleased to begin working with our partners at Wanxiang, with whom we’ve developed a strong relationship over the past year, to bring our lithium-ion battery packs and cells to one of the fastest-growing markets," said Charles Gassenheimer, Chairman and CEO, Ener1, Inc. "We believe our technical expertise, coupled with Wanxiang’s manufacturing aptitude, will help us quickly deliver exceptional energy storage solutions for customers in China."
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