Sino-Korea Joint Venture New Energy Automotive Battery Production Line to Be Put into Production Next Year

The layout of Beijing's new energy auto industry has fallen further. A few days ago, a Sino-Korean joint venture, Beijing Electronic Controls Aishida Technology Co., Ltd., signed a contract in Beijing. The new company was jointly established by Beijing Automotive Group Corporation, Beijing Electronic Control Corporation, and South Korea's SK Group. The estimated total investment is RMB 1 billion. The first battery pack production line is expected to be commissioned in June next year, and will use high-performance car batteries to enhance the competitiveness of BAIC New Energy models.

The registered capital of the new company is 350 million yuan, of which Beijing Electronic Control holds 41%, BAIC holds 19%, and SK holds 40%. The initial construction site of the project was selected in the Beijing Economic and Technological Development Zone. SK Group is one of the three major business groups in Korea. Its main industries are energy and chemicals, information communications and semiconductors. In the 2012 Fortune Global 500 list, SK ranked 65th.

By 2015, the sales scale of BAIC energy-saving and new energy vehicles is expected to reach 150,000 vehicles, of which about 50,000 will be pure electric vehicles. Sino-Korean joint-venture power battery companies will become an important support for the development of new energy vehicles in the city during the “Twelfth Five-Year Plan” period.

At present, the scale of BAIC new energy demonstration operation has reached more than 1,000 vehicles, and will strive to become one of the new energy auto companies with leading technology, largest industrial scale and strongest research and development capabilities in China. However, in the face of the demand for expansion of the electric vehicle market, domestic pure electric vehicles also face the bottleneck of the battery system.

It is understood that the domestic car companies generally use lithium iron phosphate battery packs, battery cell energy density is low, affecting the voyage mileage of pure electric vehicles, and the reliability of the battery after the group products are not high reliability also affects consumers.

The new joint venture company will build the country's first fully automated module production line and semi-automatic battery packaging wiring, becoming a leading battery technology company with internationally leading technology and timely and reliable service. While advancing the battery package joint venture project, China will also conduct preparations for battery cell joint ventures with foreign partners, and strive to formally launch a feasibility study for the project next year, with production capacity in 2015.