(Yicai Global) March 4 -- Jiangsu Azure Corp. is to invest CNY5 billion (USD772.8 million) in another lithium-ion battery production line for small power systems, its second such major investment in under three months, as the battery maker aims to become a world leading supplier.

The new plant in Huai’an, southeastern Jiangsu province will have an annual output of four billion ampere hours, the firm said yesterday. It will build the factory in two stages with the first stage costing CNY2.4 billion, it said, without giving details about the construction timetable.

The Huai’an factory is likely to double the firm’s yearly lithium battery output to between 1.2 billion and 1.9 billion units from its current 700 million units.

The move follows a CNY1.3 billion investment announced last December to hike output at its plant in Zhangjiagang, where the firm is based, by 300 million lithium batteries a year with an energy charge of one billion amp hours.

Formerly known as Aucksun, the company has been a producer of ternary cylindrical lithium-ion batteries for 15 years and has built strong partnerships with world-famous tool makers such as Germany’s Bosch as well as the US’ Stanley Black & Decker and TTI.

The firm’s stock [SHE:002245] closed down 0.86 percent today at CNY10.37 (USD1.60).

Editor: Kim Taylor