Great Power invests in 10 GWh battery storage manufacturing facility in China

Guangzhou-based Great Power has announced a CNY 5 billion ($690 million) investment to build a 10 GWh battery energy storage cell and system manufacturing facility in Guangde, Anhui Province, alongside an independent R&D base.

The project will be executed in two phases, with the first phase scheduled for completion and operation in September 2025. The second phase will proceed in line with the company’s planned investment timeline. 

This expansion aligns with Great Power’s “strategic commitment to deepening its presence in the energy storage sector and aligning with anticipated market growth”. 

The announcement follows a series of large-scale investment plans unveiled by Great Power earlier this year. These include a CNY 2.3 billion project in Ulanqab, Inner Mongolia, for a 10 GWh energy storage cell and system facility and a 1 GWh semi-solid-state battery production line, as well as a CNY 1 billion project in Zhumadian, Henan Province, to produce small aluminum-shell lithium-ion batteries and capacitor-style lithium-ion batteries.

Technologically, Great Power has demonstrated significant innovation. Its recently launched all-solid-state battery achieves an energy density of 280 Wh/kg with a lifespan of 600 cycles. The battery also offers stable performance across a temperature range of -20°C to 85°C. In sodium-ion battery technology, Great Power has developed systems with energy densities of 150 Wh/kg and a cycle life exceeding 6,000 cycles. 

The company’s product portfolio spans small-sized power batteries, energy storage batteries, semi-solid-state batteries, all-solid-state batteries, and sodium-ion batteries. Notable offerings in the energy storage segment include the POLAR series for residential low-temperature applications and the high-capacity 590 Ah Fengpeng cell for grid energy storage. These products have enabled Great Power to secure a strong position in the global energy storage market. Public data indicates the company operates nine production facilities worldwide, with a total capacity exceeding 40 GWh, over 60% of which is dedicated to energy storage. 

However, the aggressive expansion poses financial challenges. Great Power’s latest financial report reveals available cash of CNY 1.378 billion, significantly below the CNY 8.8 billion required for its announced projects. The company plans to bridge this gap through a combination of equity and debt financing, including bank loans, convertible bonds, preferred shares, rights issues, and private placements. Delays in financing or excessive debt levels could negatively impact the company’s financial stability and the timely execution of its projects.