Geely to invest almost USD 5 bil for EV battery factory, will Proton benefit from it?

Geely has announced that it will invest 30 billion yuan (4.6 billion USD) to build an EV battery plant in China. The planned production capacity of the factory is 42 GWh/year, similar to Volkswagen’s planned factory in Europe.

Geely is now in talks with Farasis Energy for its planned battery production plant. With a 42Gwh/year production capacity, Geely should be able to provide enough batteries for 600,000 electric vehicles per year.

While the battery plant is still in plans, Geely has received a proposal from CATL to supply EV batteries for Volvo Cars.

Geely’s decision to invest almost 5 billion USD for a 42 GWh/year EV battery factory is a bold step forward to electrification. While Geely and Volvo cars are certain to benefit from this investment, Proton will only benefit if the EV adoption in Malaysia shows improvement.