Chinese battery maker CALB to increase capacity by 150 percent

CALB is China’s third largest battery supplier for the EV market but it's aiming to go higher up the chart. The company announced that the factory in Wuhan, which is under construction will be expanded to accommodate the increasing demand from the market. The initial factory was planned to manufacture 20GWh of batteries per year and the expansion will add to another 30GWh capacity with the company investing $1.78 billion (€1.71 billion or £1.46 billion).

Combined capacity of 50GWh at the new factory is just the first step for CALB who has plans to grow to over 500GWh by 2025 - that’s 200GWh more than they expected back in June last year.

The company aims to achieve 1,000GWh by 2030 if it is to keep up with the competition and demand. CALB has another facility of 50GWh being built in Guangzhou and another one in Jiangmen. Its factory in Xiamen is nearing the third phase completion, which will bring additional 60GWh of battery manufacturing capacity.

Last week the company has signed yet another contract, this time in Meishan, for construction of one more battery factory. CALB sounds at this stage more like a construction company but the truth is that the market demand has exploded and sizeable investments are needed to be able to catch up.

Source