On September 13, Ningde Times signed a cooperation agreement with BME, a local battery manufacturer in Egypt, to invest more than 2 billion Egyptian pounds (about 261 million yuan) to build a power battery manufacturing plant in Egypt.
It is understood that the project is divided into two phases. In the initial stage, the planned annual production capacity of the factory is 1 GWh, mainly for the production of power batteries for large commercial vehicles; in the second stage, the factory will expand to passenger car batteries and wind and solar energy storage systems, and the overall total production capacity will be increased to 5 GWh, aiming to achieve 40% of the local production ratio.
This is the first manufacturing base of Ningde Times in North Africa, and it is also the third Chinese energy storage enterprise that has officially announced its production capacity in Egypt in just three months, following Sunshine Power Supply and Guoxuan Gaoke.
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