Chinese battery maker Hithium expands global footprint amid US-China rift, rising demand
The world’s third-largest maker of energy storage systems plans to open its US$100 million Texas facility later this year, executive says
Xiamen Hithium Energy Storage Technology, the world’s third-largest energy storage system (ESS) battery manufacturer, is ramping up production overseas in response to heightened US-China tensions and rising tariffs impacting Chinese exports.
Hithium plans to start production at its Texas factory in the second half of this year and hire at least 200 staff locally, said Sun Minghuang, the director of strategic marketing, in an exclusive interview.
“We are determined to go global, and localisation is a very important strategy in our global ambitions,” he said. Hithium filed its Hong Kong listing application in March to raise funds for its growth plans.
The company’s US$100 million facility in Forney, Texas, covering nearly 500,000 sq ft, will have an annual production capacity of about 10 gigawatt-hours (GWh). Accounting for at least 10 per cent of Hithium’s total production capacity, the company was targeting to more than double its capacity to 100GWh by 2026 from 2024 levels, according to its preliminary prospectus.
Hithium aims to generate half of its annual revenue overseas by 2028, from nearly 30 per cent last year, taking advantage of growing demand for energy storage due to increasing renewable energy production, according to Sun.
Earlier this month, the company signed a preliminary agreement with Spanish venture capital firm GCRPV to set up an ESS plant in Europe. In October, it formed a joint venture with a Saudi Arabian firm to set up a facility in the Middle Eastern country.