Chinese battery producer seeks investment opportunity in Hai Duong

Secretary of the provincial Party Committee Tran Duc Thang receives Will Shangguang and his entourage from Xiamen Hithium Energy Storage Technology Co., Ltd.

Hai Duong always respects and welcomes investors and enterprises, including Chinese ones, said Secretary of the provincial Party Committee Tran Duc Thang.

Thang was speaking at a reception for Will Shangguang, investment and development director in charge of global investment strategies of Xiamen Hithium Energy Storage Technology Co., Ltd. (Hithium for short) from China, on May 22.

The secretary of the provincial Party Committee informed Will and his entourage about Hai Duong’s potential and strengths in geographical location, traffic infrastructure, industrial parks, and human resources.

The province is in need of and prioritizes hi-tech, creative and supporting industrial projects, Thang stressed.

“Hai Duong authorities are committed to creating the best conditions for businesses to invest in the locality,” said Thang.

He suggested that Hithium comply with regulations during research, investment, and future operation, including financial obligations and regimes and policies for laborers.

Secretary of the provincial Party Committee Tran Duc Thang presents a souvenir to Will Shangguang

The provincial Party chief assigned the provincial Industrial Parks Authority to coordinate with relevant departments and branches to guide the company on the process and procedures for investment in Hai Duong.

Hithium, a hi-tech company established in 2019, would like to invest in Hai Duong, Will said.

The enterprise specializes in researching on, developing, manufacturing, and selling core materials of lithium-ion batteries, lithium iron phosphate (LFP) systems and batteries.

Hithium is headquartered in Xiamen city, Fujian province, China and has offices and plants in the US, Germany, India, Australia, and Singapore.

The company ranked first in China in 2022 in the number of LFP battery projects and the growth rate of orders (more than 4,000%).

It raked in about 520 million USD in net revenue in 2022 and is expected to earn 2.18 billion USD in revenue in 2023.

HOANG BIEN