Chinese Gov’t. Gives Green Light To Energy-Storage JV

Ener1 Inc., a provider of lithium-ion energy-storage solutions, and Wanxiang Electric Vehicle Co. Ltd., a division of Chinese conglomerate Wanxiang Group Corp., say they have received approval from the Chinese government for their joint venture to co-manufacture lithium-ion energy-storage systems for the Chinese market.

The new company – Zhejiang Wanxiang Ener1 Power System Co. Ltd. – will initially focus on fulfilling existing contracts with State Grid Corporation of China, which is the largest power supplier in China. These projects include providing lithium-ion battery systems for an electric-bus project for the city of Qingdao, an electric-vehicle project for the city of Hangzhou, as well as a grid energy-storage system.

As capacity increases, it is anticipated that the joint venture will work with other existing customers, such as SAIC Motor, Dongfeng Motor, Faw Haima Motor, Chang'an Automobile, Guangzhou Automobile and Yutong. According to the companies, the joint enterprise is expected to achieve an annual cell manufacturing capacity of 300 million Ampere hours (approximately 40,000 electric-vehicle battery packs) annually by 2014.

The company also introduced its new leadership team: Dr. Jun Chen will serve as CEO of Zhejiang Wanxiang Ener1 Power System Co., Junqi Du will be chief operating officer, and Dr. Taison Tan will take on the role of chief technology officer.

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