HK Stock Market Move | REPT Battery (00666) surged over 30%. The company announced plans to invest in a battery factory in Indonesia with an estimated annual production capacity of 8GWh in the first phase.

REPT BATTERO (00666) rose more than 30% urgently. As of the time of writing, it has risen 22.18% to HKD 11.9, with a turnover of HKD 1265.35 million. On the news front, on January 9, REPT BATTERO announced that the board of directors had decided to invest in the construction of a battery factory in Indonesia. REPT BATTERO stated that after the completion of the Indonesian battery factory, it plans to engage in research and development, manufacturing, and sales of lithium-ion batteries, battery components, modules, battery packs, etc. in accordance with local government policies. It is expected that after the first phase of production of the Indonesian battery factory, it will be able to produce 8GWh of power and energy storage batteries and systems, as well as battery components annually. It is reported that REPT BATTERO has maintained deep cooperation with many well-known domestic and foreign car manufacturers, including SAIC Motor Corporation, Dongfeng Nissan, FAW Pentium, Smart, Volvo, etc., in the field of power batteries. In the field of energy storage, as a leading enterprise in the industry, the group provides customized high-quality energy storage products and solutions for various large projects globally, covering a wide range of energy storage applications such as power, transportation, and industry, providing customers with a comprehensive solution from energy storage cells to energy storage systems.