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Tramway News: On August 27, the signing ceremony of the lithium iron phosphate battery project between Yueyang Economic Development Zone and Zhejiang Yaoning Technology Co., Ltd. (hereinafter referred to as "Yaoning Technology") was held.

The lithium iron phosphate battery project signed this time includes Yaoning New Energy Company headquarters, research institute and lithium iron phosphate battery production center plant, with a total investment of about 10.37 billion yuan. The project is constructed in two phases. When it is fully completed and put into production, it will have the capacity to produce 12GWh lithium iron phosphate battery and system assembly annually, and can arrange more than 4000 employees. It is estimated that the total output value in ten years will be about 70 billion yuan, and the total tax payment will be 6.1 billion yuan. The total output value in ten years after the completion and put into production of the first phase project is expected to be about 30 billion yuan. The project will create a top 10 billion level company in the new energy industry of Yueyang City, vigorously promoting the clustering of upstream and downstream industries such as key automotive components, batteries and materials, and the production and assembly of new energy vehicles, and accelerating the rapid development of Yueyang's new energy industry cluster.

It is understood that Yaoning Technology is an innovative automotive parts group company that focuses on forward-looking technology research and development, as well as the transformation and upgrading of the traditional parts industry. Its business focuses on the new three modernizations of the automotive industry, including intelligence, internet connectivity, and new energy.

At present, Yaoning Technology has 7 research and development and manufacturing bases in Hangzhou Bay, Ninghai, Jinhua, and Zoucheng, Zhejiang Province, forming a production scale of 2.3Gwh power lithium batteries, 900000 sets of seats, 4 million thermal formed parts, and 1.2 million sets of car lights.

In the next 5 years, Yaoning Technology will focus on the fields of electrochemistry and new materials, creating two major industries with a output value of 10 billion yuan, Yaoning New Energy and New Materials, and becoming a leading company in the segmented market industry chain.

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