Editing by Li Panpan
China’s global battery equipment maker LEAD (先导智能) established a joint Innovation Center for Intelligent Production Line with Swedish battery firm Northvolt in Wuxi of eastern China’s Jiangsu Province on February 23.
According to LEAD, the project will focus on Lithium-ion battery equipment and provide Northvolt with a complete line of higher production capacity at a higher technical level.
The Center will significantly improve the efficiency of production line delivery services, reduce labor costs for both, and save the production cycle. It marks Northvolt’s recognition of LEAD.
LEAD started cooperating with Northvolt on lithium-ion battery production equipment as early as 2019. At the end of 2021, LEAD delivered the first batch of equipment successfully, helping Northvolt mass produce lithium batteries in Europe. It is a milestone for Northvolt and a step forward for LEAD in entering the European market, the company said.
According to the announcement, Northvolt has received orders for lithium batteries worth more than $30 billion by the end of 2021. As Northvolt’s equipment supplier and partner, LEAD China will provide high-quality equipment and services to help it become the leading lithium battery manufacturer in Europe.
Northvolt is a leader in the European lithium battery market, and it plans to expand its production capacity at a rate of 60GWh per year.
LEAD China specializes in the R&D, design, production and sales of LIB equipment. It provides overall solutions in Lithium-ion battery, Photovoltaic, 3C, warehouse & logistics system, automobile, fuel cell and Laser.
In 2021, LEAD China achieved a net profit attributable to the parent of RMB1.45 billion ($229.75 million) to RMB1.65 billion ($261.44 million), a year-on-year increase of 88.92%-114.98%.