With the call of striving in the new year, Ningxiang, Hunan Province welcomed a "Big Mac" project at the beginning of the the Year of the Loong. On February 24, 2026, Shengxi Technology's new generation lithium battery research and development and comprehensive production base officially started construction in Ningxiang Economic Development Zone. As one of the 30 major projects that started construction on the same day, this project with a total investment of over 30 billion yuan and a planned production capacity of 60 GWh is undoubtedly the absolute focus.

The total land area of the project is 1008 acres, and it will be constructed in two phases. The first phase of the plan is to build a production capacity of 20GWh, expected to be put into operation in March 2027; The second phase will build an additional 40GWh production capacity. After reaching full production capacity, the annual output value can exceed 30 billion yuan, and its batteries can meet the needs of about 1 million new energy vehicles or more than 50 large-scale energy storage power stations. For Hunan to build a highland of new energy industry, this move directly strengthens the core battery manufacturing process.

Why is there a massive expansion of production at this time?

The counter trend investment of Shengxi Technology is a microcosm of the overall recovery of the lithium battery industry. After more than two years of deep adjustment, the industry will gradually clear low-end production capacity under the consensus of "anti involution" by 2025, while the demand side, especially the energy storage market, will experience an outbreak. In 2025, the global shipment of energy storage batteries surged by 82.9% year-on-year, reaching 640GWh. Institutions predict that the global lithium battery shipment growth rate will exceed 50% by 2026.

Driven by demand, a new round of capacity competition has begun. According to statistics, by 2025 alone, the total expansion scale disclosed by major battery companies has exceeded 500GWh. At this moment, Shengxi Technology's establishment is a strategic layout for the rising period of the precision card market.

Young dark horses and local ambitions

The investor, Shengxi Technology, was established in 2021 and is a technology enterprise focused on the research and development of new lithium battery materials. Although young, its technological direction is highly in line with the current trend of industrial upgrading. The project has been progressing rapidly from the signing of the contract in December last year to the commencement of this project.

For Hunan, introducing manufacturing projects with such core technologies is of great significance. It can not only directly drive output value, but also attract upstream and downstream supporting enterprises to gather, improve and strengthen the entire new energy industry chain, and achieve a key leap from a "material province" to a "full chain strong province".

Not just factories, but also the pivot of industrial ecology

This 60GWh base is far more than just one production factory. It will be built into a comprehensive base integrating research and development and manufacturing. Its products will cover both the high-speed growth tracks of power batteries and energy storage batteries, with stronger risk resistance and market space.

In the wave of global energy structure transformation, whoever masters advanced battery production capacity has the initiative for development. The commencement of the "billion dollar" project in Ningxiang is a clear signal of Hunan's active participation in the global division of labor in the new energy industry and its competition for industrial high ground. It carries a strong ambition for a region to achieve leapfrog development on a new track.Editor/Yang Meiling