Geely-backed Battery Maker, Aforever New Energy, Began Production, Eyeing Volvo C30 EV

Shandong Aforever New Energy Science & Technology, a Lithium-Ion battery maker affiliated with Geely Auto, started production in Zoucheng, Shandong, on June 16, betting on the mass production of the electric Volvo C30.

According to its website, Aforever (Hengyuan) was founded by a Hong Kong-based investment company controlled by Honbridge Holdings. Although Aforever officials have been evasive on the Geely connection, there is solid evidence that the automaker is the real force behind the operation. A senior VP of Geely was present at the press conference (albeit he said "Geely is not a stakeholder in Aforever but only a client"), and all attending media were invited by Geely’s PR department. Moreover, an investigation into Honbridge Holdings reveals that it has been a close partner of Geely, both listed in Hong Kong.

aforever geely battery volvo factory opening ceremony

Citing a director of Aforever, China National Radio (CNR) reports that the company expects Volvo Cars, owned by Geely, to start volume production of its C30 EV in the near future and itself a major supplier of the needed Lithium-Ion batteries.

Occupying a land of 120,000 square meters, the Aforever factory in Zoucheng currently has a production capacity of 150,000 KWh per year, which is eventually to rise to 1.5 million KWh. It will cost a total of US$214 million. Main manufacturing equipments were imported from the US, Japan, and Taiwan. Besides Geely, Aforever’s clients include Great Wall Motor, SIASUN Robot & Automation Co., Ltd, Guanton Auto, among others.