On May 23, a signing ceremony for a corporation framework agreement of Guangdong Teamgiant New Energy Technology's 20GWh power battery and supporting industry project was held in Qianshan City, Anhui Province, China. By report, the total estimated investment is RMB10 billion (USD1.48 billion), of which RMB5 billion (USD742 million) is for the first phase of the project to construct a 10GWh power battery manufacturing project.