SVOLT's 24-GWh BATTERY CELL FACTORY COMES TO GERMANY / Chinese high-tech company invests up to EUR 2 billion in two Saarland production sites

Frankfurt am Main/Saarbrücken (ots) -

- SVOLT intends to establish two production sites in Germany by the end of 2023.
- A total investment of EUR 2 billion is planned; SVOLT will create up to 2,000
jobs in total.
- A module and pack factory as well as a state-of-the-art cell factory with 24
GWh production capacity in the final expansion stage will be built in
Saarland. 24 GWh corresponds to batteries for 300,000 to 500,000 electric
vehicles per year.
- European production will focus on battery cells, modules and packs.

SVOLT Energy Technology Co., Ltd. (SVOLT), a global high-tech company
headquartered in China that develops and produces lithium-ion batteries and
battery systems for electric vehicles and energy storage systems, will establish
its European production site in Germany, as announced at IAA 2019. A module and
pack factory as well as a state-of-the-art cell factory with 24 GWh production
capacity in the final expansion stage will be built at two Saarland locations. A
total investment of up to EUR 2 billion is planned in Europe. In total, SVOLT
aims to create up to 2,000 jobs. Battery cells and modules and high-voltage
storage systems (packs) will be produced in Germany.

A reliable partner for the European automotive industry

As a spin-off from Chinese car manufacturer Great Wall Motors, SVOLT combines
systemic knowledge in the field of battery systems and management with extensive
expertise in the field of vehicle integration. SVOLT is able to offer its
customers tailor-made solutions at the battery cell, module and high-voltage
storage system (pack) level as well as the corresponding software.

By taking an integrated approach to vehicle architecture and battery systems,
SVOLT supports OEMs in creating safer, highly functional, durable and
cost-effective products that also focus on the needs and expectations of end
customers. The company's one-stop production portfolio includes high-quality
battery cells and their cell chemistry, modules and high-voltage storage systems
(packs) as well as battery management systems (BMS) and software solutions.

Research and innovation as a driver for the development of sustainable
electromobility

In addition to solutions that comply with current market standards, SVOLT is
working intensively on the development of new technologies and the continued
further development of existing technologies. With two large R&D centres in
Baoding and Wuxi, China, and three R&D hubs, SVOLT currently employs around half
of its 3,000 worldwide employees in the area of research and development alone
and registered over 550 patents in 2019. Among other things, SVOLT is the first
company to bring cobalt-free high nickel cell chemistry to mass production