Zhejiang Narada Power Source (300068.SZ) plans to invest 1 billion yuan in the construction of a 4 GWh energy storage battery and integration project with an annual production capacity.

Zhejiang Narada Power Source (300068.SZ) announced that the company plans to invest in the construction of a 4GWh energy storage battery and integration project. The project is located in Nan Yuan, Jiuquan Economic and Technological Development Zone, with a planned land area of 200 acres and a factory area of approximately 94,000 square meters. It will consist of a production line for cell, PACK, and integrated system manufacturing. The fixed assets investment for the project is estimated to be 1 billion yuan, and construction is planned to start in September 2023, with completion and production expected in the first half of 2024. It is reported that the company's external investment this time aims to further enhance the production scale of energy storage systems, seize the good market development opportunities in the field of power energy storage, meet the company's continuous growth in order demand, and seize the opportunities for the booming development of the energy storage market in the Northwest region to further enhance market share and competitiveness.