Battery maker plans base in Southeast Asia

China's largest lead-acid battery maker is planning to build a production base in Southeast Asia to expand exports amid rising costs in the world's second-largest economy, the company's chairman said.

"There is a growing demand for batteries in markets such as Vietnam and the Philippines," said Zhang Tianren, chairman of Tianneng Group, based in East China's Zhejiang province. "As production cost surges in China, we want to locate our plants closer to our clients and better serve them."

The factory will also serve as a base to tap into neighboring countries, he said.