Jinlongyu Group (SHE:002882), through unit Jinlongyu New Energy (Shenzhen), plans to invest in the construction of a solid-state battery production line for 1.20 billion yuan, according to a Shenzhen bourse filing on Tuesday.
The project will be located in Dapeng New District, Shenzhen.
The plant, which will produce 2-gigawatt-hour solid-state batteries, will be constructed within an estimated timeframe of 24 months.
The wire and cable manufacturer's shares soared less than 9% during the afternoon trade.
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