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Seize the RCEP Opportunities without Delay Enhance Industrial Cooperation

The Phase III Project of Prime Planet Energyfor Vehicle-bornePowerBatteries Having Commenced Construction

 

Recently, the phase III project of PrimePlanet Energyfor vehicle-borne power batteriesjointly invested by Prime PlanetEnergy & Solutions, Inc. and Dalian Liaowuer Electrical Co., Ltd. hascommenced construction. As a project located in the New Energy Industrial Parkof Dalian Free Trade Area and covering an area of 135,000 square meters, it includesthetwo factory buildings of C1 and C2. The overall construction of the factorybuildings and the production capacity import inthe factory building C1 islaunchedfirst, with a total investment of RMB 1.15 billion yuan.The new increase in theannual output value is expected to be more than RMB 2 billion yuan after theproject is up to the production capacity. This project, as another milestone ofDalian Free Trade Areain deepening the cooperation withJapan Prime PlanetEnergy& Solutions, will inject strong impetus for the Area to expand theindustrial cooperation oriented to the RCEP member countries and promote theconstruction of the special zone for industrial innovation.

Dalian Prime Planet Energy Co., Ltd.,which was founded in Dec. 2014, is a Sino-Japanese joint venture being the largestin single project investment scale in Dalian Free Trade Area. With the producttechnology, quality and manufacturing being all at an advanced level in theworld, it is mainly engaged in production ofthe power batteries for hybrid motorsto provide supporting for FAW Toyota, GAC Toyota, GAC Honda, Dongfeng Honda,Ford, Great Wall and other domestic dragonhead enterprises for hybrid motors. Withthe annual compound growth rate of the industrial output value having reached95% since the first phase project of Prime Planet Energy was put into operationin 2018, it has providedan important support for the steady development of the industrialeconomy in Dalian Free Trade Area.

Dalian Free Trade Area hasestablished a special team for Prime Planet Energy to establish a greenchannel, coordinate in solving such problems as land arrangement,infrastructures, planning and construction, epidemic control, etc. to ensurethe smooth construction of the project, the stable production of the enterpriseand lay a solid foundation for putting the phase III project into production atan early date.              

Next, Dalian Free Trade Area willseize hard the opportunities as a result of RCEP coming into effect,comprehensively connect with the new RCEP rules for economy and trade, ploughdeeply for the opening up and cooperation oriented to the RCEP membercountries, promote the gathering of strategic emerging industries, innovate newbusiness pattern and new mode of foreign trade and spareno effortsin forging a demonstration park for RCEP economic and tradecooperation.