On the morning of August 8, Tongcheng Gotion New Energy Co., Ltd., a wholly-owned subsidiary of Hefei Gotion High-tech Power Energy Co., Ltd., officially put phase I, with annual production capacity of 10GWh, of its 40GWh power battery project into production. The phase II of the project was started simultaneously on the same day.

According to the previous plan, the project will be constructed in three phases, which would respectively form an annual production capacity of 10GWh, 20GWh and 10GWh in the first, second and third phase. When completed and reaching full production capacity, the whole project's annual sales revenue would be no less than 40 billion (USD 59.25billion), with its products to be directionally exported to the United States, India and other countries.