On April 11, the cloud signing ceremony of the 16GWh power battery of Phylion Battery was successfully held. The project is settled in Yancheng Technological Development Zone, with a total investment of RMB five billion yuan. Besides its base in Suzhou of Jiangsu and that in Chuzhou of Anhui, the capacity territory of Phylion was expanded again.

Xia Sijun, Deputy Mayor of Yancheng Municipal People's Government, Secretary of Party Working Committee of Yancheng Technological Development Zone, and Secretary of Tinghu District Committee, and leaders with specific duties of Yancheng Development Zone attended the signing ceremony. Feng Xiao, President and Chairman of Phylion Battery Co., Ltd., Wang Zhengwei, President of the Battery Research Institute, Liu Yang, General Manager of Human Resources Center attended the signing ceremony.

The planned total investment of Phylion Battery's 16GWh power battery project is around 5 billion yuan, with the acquired land of around 66 acres. The entire production line will adopt the most advanced production equipment. After the project is fully completed and put into operation, it may realize the annual invoicing sales revenue of 10 billion yuan and the tax revenue of 300 million yuan. Chairman Feng Xiao said that the project is another important milestone in the development history of Phylion. Yancheng Technological Development Zone boasts multiple advantages, such as the excellent business environment, strong industrial foundation, convenient traffic and good industrial supporting policies. The project's settlement in Yancheng Technological Development Zone will help Phylion expand the market and widen the industry.

As the pioneer and leader of the power lithium battery field, Phylion has been devoted to the R&D, production and sales of other power fields, such as electric light vehicles, new energy automobiles and energy storage. Its products are mainly applied to electric automobiles, electric bicycles, communications and environment-friendly new energy fields. From 2018 to 2021, Phylion's delivery quantity of lithium-ion batteries for electric light vehicles at home has been the top one for four consecutive years, with the market share of over 40%.

The investment and construction of its project in Yancheng indicate that Phylion Battery will boast the third largest production base at home besides Suzhou of Jiangsu and Chuzhou of Anhui. It will help Phylion further integrate advantages and release capacity, speed up the global development layout of the enterprise, and boost the all-round penetration and popularization of lithium battery energy.