Bafang is investing in a new facility for the development and production of high-end battery packs.
To meet its growing development needs and clarify its business layout, the manufacturer will soon establish a third subsidiary in China, with a working name of Bafang New Energy (Suzhou) Co., Ltd. The final name is subject to the approval of the relevant industrial and commercial registration authority. An agreement was signed with Suzhou Industrial Park Suxiang Cooperation Zone (“Suxiang Cooperation Zone”) in February.
Bafang New Energy will serve as an R&D and production base for Bafang’s lithium-ion battery packs. These products, together with supporting motors, controllers and instruments, constitute a complete electrical system package.
The establishment will help Bafang to leverage its regional synergies and agglomeration advantages, the manufacturer said, to attract high-calibre technical talents and carry out further technological innovation and cooperation. The new subsidiary will optimise Bafang’s organisational and business structure, clarify business segments and enhance Bafang’s operational efficiency and comprehensive strengths.
The Suxiang Cooperation Zone focuses on future-city technology, new-generation electronic information, artificial intelligence and high-end equipment manufacturing. With a total area of 50.58 km², it is located in the northern part of Suzhou, adjacent to Suzhou North Station of the Beijing–Shanghai High-Speed Railway.