Green Eco-Manufacturing (GEM), is set to expand its investment at Wuxi Airport Industry Park (A-Park), plowing new funds into it production base and establishing an R&D center, Wuxi Daily reported.
New energy battery producer announced on Aug 8 that it is to plow 386 million yuan ($58.1 million) into its A-Park base, including 120 million yuan for infrastructure upgrading which is expected to yield an increased production of vehicles batteries to 15,000 tons annually.
Construction on a new energy materials R&D center is scheduled for completion by the end of this year, which will act as a platform for introducing the latest technologies into the production line. When the site comes online, postdoctoral workstations will be built and international experts will be invited to conduct research.
GEM’s sales revenue reached 5 billion yuan in 2015. The company invested more than 300 million yuan in the first stage of its project at A-Park, which saw the construction of an advanced production line for new energy batteries, producing 7,000 tons annually.