Zhangjiagang, a county-level city in Suzhou, East China's Jiangsu province, is aiming to build a 100-billion-yuan ($14.73 billion) new energy industry.

As of the end of 2022, the city was home to 40 above-designated-size companies in three new energy sectors – lithium-ion battery, hydrogen energy, and photovoltaic energy. These companies generated 44.7 billion yuan in revenue in 2022.

Fourteen new energy projects worth 23 billion yuan are currently under construction while six others worth 40 billion yuan are being planned. Cao Yingfei, director of the Zhangjiagang development and reform commission, said the combined operating revenue of the city's new energy companies is expected to reach 60 billion yuan in 2023 and surpass 100 billion yuan in 2025.

Zhangjiagang has many lithium-ion battery companies that are leaders in their respective fields. For example, Jiangsu HSC New Energy Materials Co is a world-leading supplier of vinylene carbonate (VC) and fluoroethylene carbonate (FEC), and Jiangsu Ruitai New Energy Materials Co is the first company in China to successfully mass-produce lithium-ion battery electrolytes.

In addition, a complete hydrogen energy industrial chain involving production, storage, delivery and use of hydrogen is taking shape in Zhangjiagang. Auto parts manufacturers such as Spotlight Automotive, ZF, and Magna in the city are also embracing the transition to electric vehicles.

Many new energy projects are also streaming into Zhangjiagang. Xinyi Group in Hong Kong presently has 14 ongoing new energy projects worth 23 billion yuan in the city, while a 1-billion-yuan lithium-ion battery electrolyte additives project invested by Shanghai Rolechem New Material Co has started construction.

Innovation is a major driving force behind the growth of Zhangjiagang's new energy industry. To date, the city owns 22 provincial-level engineering technology research centers and 23 corporate research and development platforms.

Enterprises have also been working on new technological breakthroughs by increasing R&D expenditure and cooperating with partners and research institutes. Shenghong Group, for example, plans to employ more than 300 high-level talents for its new research center, and Suzhou Huachang Energy Science and Technology Co spends about 20 million yuan every year on product development.