On August 27, news released by the Jiangsu Jintan Economic Development Zone revealed that the zone recently welcomed a significant European new energy sector deployment-Belgian high-tech company Avesta Holding officially signed an agreement to establish a presence there. This marks the first Belgian enterprise to invest in Jintan, achieving a "zero breakthrough" in attracting Belgian investment to the zone.
According to the introduction, Avesta Holding plans an initial phase investment of 5 million euros (approximately Yuan 41.5 million) for the project. The company will first set up a branch in Jintan, establishing a procurement center and a research and development testing center. The second phase involves a planned investment of 100 million euros (approximately Yuan 830 million) to build a GWh-level solid-state battery production line. Once the project reaches full production capacity, it is expected to generate an annual output value of Yuan 2 billion and contribute over Yuan 100 million in taxes.
Background information shows that Avesta Holding is a European battery manufacturer that has made significant layout and development in the battery sector in recent years, particularly in the production of lithium iron phosphate (LFP) batteries.
Edited by Cassie Li, lixiangying@mysteel.com
