Construction on East Group's energy storage manufacturing digital energy base breaks ground in Qidong, Nantong, East China's Jiangsu province, on Nov 25. [Photo/WeChat account: qidongfabu]

The groundbreaking ceremony of East Group's energy storage manufacturing digital energy base was held in Qidong, Nantong, East China's Jiangsu province, on Nov 25.

Receiving a total of 2.5 billion yuan ($354.52 million) in investment, the base includes production lines for battery modules, energy storage converters, boosters, outdoor battery cabinets, energy storage integrated machines and an online service platforms.

The base will produce 2.5 giga watt hour of intelligent energy storage battery cabinet products a year. Its annual taxable sales are expected to reach 4 billion yuan and it is expected to pay 100 million yuan in annual taxes.

From January to October, China's output of new energy vehicles and wind and solar energy increased by 108 percent and 36 percent year-on-year in China, showcasing the great potential of new energy, said He Simo, founder of East Group.

In addition to promoting the city's new energy development in wind power photovoltaic energy storage and power exchange and the integration of wind and solar energy storage, the digital energy base is committed to offering a green power supply, building a zero-carbon industry demonstration zone and bases for producing a new energy storage system, high-end power supply and intelligent charging and power exchange, added He.