(Yicai Global) March 9 -- Wuxi Lead Intelligent Equipment Co. will invest USD300,000 to set up a wholly-owned subsidiary in the U.S. to support its global expansion, it said in a statement on March 7.

However, the company, which is the world's largest lithium-ion battery equipment manufacturer, gave no further details about the planned investment.

Wuxi Lead has cooperation deals with Panasonic Corp., Sony Corp., Samsung Electronics Co., LG Electronics Inc., TDK Corp., ATL Electronics Ltd., Contemporary Amperex Technology Co., BYD Lithium Battery Co. and other well-known battery companies to provide customers with a whole set of intelligent lithium-ion battery equipment, shows publicly available information.

Founded in 2002, it also engages in solar and capacitor equipment manufacturing and smart factory construction.