Tiexi district signed 54 projects with a total investment of 83.46 billion yuan ($12.03 billion) at the first batch of project signing and construction activities held recently in Shenyang, Liaoning province.

Envision Digital, providing innovative digital solutions to businesses, institutions and governments around the world, will invest 20 billion yuan to construct a smart battery industrial base and a zero-carbon industrial park to support new energy power stations and independent energy storage power stations in the Shenyang Economic and Technological Development Zone.

This is another key industrial project that Tiexi has introduced on the new energy track after the launch of BMW's new power battery project and EVE Energy's lithium-ion battery energy storage and power plant in 2022.

At the same time, 151 projects including BMW Brilliance's third plant, the Beijing North Institute of Biotechnology's industrial park, and ZF Friedrichshafen's new energy electric drive base have started construction.

"The first group of project signing and construction activities held in Shenyang in 2023 set an example for the economic development of Northeast China. It is also an encouraging sign for us and a boost for our investment in Shenyang," said Gao Fuchun, general manager of Envision Energy.

BMW's new power battery project is located in Tiexi.