On July 6, 2023, the launch ceremony of the first phase factory of Jiangsu Ruien New Energy Project was held, attended by Mayor Sheng Lei, Vice Mayor Huan Heng, Secretary General of the Municipal Government Zhou Chengtao, and Founder Chen Xuan of Jiangsu Ruien New Energy Technology Co., Ltd.

The Rui'en New Energy Phase I project has a total investment of 6 billion yuan and is located in the Binjiang Economic Development Zone. It covers an area of approximately 324 acres and has a newly added total construction area of approximately 200000 square meters. It is used for research and development and manufacturing of high magnification lithium-ion batteries, mainly used in fields such as electric tools and high-end two wheeled vehicles. The project is expected to be completed by the end of 2024, and will form an annual production capacity of 600 million high capacity and high rate lithium batteries, creating 1500 new jobs.

Currently, the new energy industry chain of Changzhou High tech Zone has gathered over 500 enterprises above designated size, with an industrial scale of over 150 billion yuan. The settlement of the Ruien New Energy Phase I project is conducive to forming a driving force for the upstream and downstream industry chain of lithium batteries. Editor/Zhao E