Pret Composites has made public that its indirectly - held subsidiary, Haisida Naxing, has inked a deal with the Administrative Committee of the Neijiang Economic and Technological Development Zone. The company intends to pour 800 million yuan into setting up a new subsidiary within the Neijiang Economic and Technological Development Zone. This subsidiary will be responsible for building a state - of - the - art production base for sodium - ion batteries, boasting an annual production capacity of 6GWh.

As per the plan, the project will encompass two production lines and will be carried out in two distinct phases. The initial phase is set to have a production capacity of 2GWh, with a construction timeframe of roughly six months. Subsequently, the second phase will see an expansion of 4GWh. However, it's important to note that there are inherent uncertainties surrounding both the actual attainment of the project's goals and its precise timeline.