Hydrogen energy
12 billion! AVIC Invests in Expansion of Wuhan Battery Factory
Seetao 2022-05-13 09:39
  • The planned production capacity of the factory invested this time is 30GWh, with a total investment of 12 billion yuan
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On May 11, 2022, China Innovation Aviation announced that it has signed a contract with Wuhan Economic and Technological Development Zone for a 30GWh power and energy storage battery expansion project at the Wuhan base, with a total investment of 12 billion yuan.

The first phase of the Wuhan base project was signed on May 31, 2021, with a planned production capacity of 20GWh and an investment of 10 billion yuan. After this expansion, the planned battery production capacity of AVIC in Wuhan has reached 50GWh. Liu Jingyu, chairman of China Innovation Airlines, previously stated that China Innovation Airlines’ production capacity plan will exceed 500 GWh by 2025, and it is expected to achieve a production capacity of 1,000 GWh in 2030.

At present, the main production bases of China Innovation Airlines are located in Changzhou, Luoyang and Xiamen, and the actual production capacity in 2021 will be 11.33 GWh. Since last year, China Innovation Airlines has signed contracts to invest in a number of battery projects. In 2021 alone, the company announced the expansion of projects in Changzhou and Xiamen, and new production bases in Chengdu, Hefei, Wuhan and Germany, with a total new production capacity of 255 GWh. In January 2022, China Innovation Aviation officially announced the construction of two new factories in Guangzhou and Jiangmen, with a total of 100Gwh power battery and energy storage system projects. According to Jiemian News, its existing, under construction and planned battery production capacity totals 455GWh.

According to the statistics of the China Automotive Power Battery Industry Innovation Alliance, since November 2022, China Innovation Airlines has ranked third in domestic power battery installations, second only to 300750.SZ and BYD (002594.SZ). In the first four months of 2022, the installed capacity of China Innovation Aviation was 5.09 GWh, with a market share of 7.89%.

The prospectus disclosed that China Innovation Airlines will have an annual revenue of 6.8 billion yuan in 2022, 2.4 times that of 2020; its net profit will be 110 million yuan and a loss of 180 million yuan in 2020. The top three customers of China Innovation Airlines last year were GAC Group, Changan Automobile and Xiaopeng Motors. In 2021, the sales revenue of China Innovation Aviation from GAC Group will be 3.5 billion yuan, accounting for more than half of the total revenue. Changan Automobile and Xiaopeng Automobile accounted for 14% and 8% respectively. Editor / Zhao E

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