SMM News: on the evening of December 9, Shrek announced that the company signed a "Strategic Cooperation Agreement" with the Management Committee of Changzhou West Taihu Science and Technology Industrial Park on December 7, 2020. the agreement stipulates that the company plans to invest in the construction of automobile power lithium-ion battery shell project in West Taihu Science and Technology Industrial Park, with a total investment of 280 million yuan and covering an area of about 50 mu.
According to the announcement, the project is intended to provide support for relevant domestic and foreign battery production plants in neighboring provinces and cities, with a total planned production capacity of billions of units per year. The Changzhou West Taihu Lake Management Committee agreed to provide Shrek with about 50 mu of land and the standard leased plant needed for the production of the project during the transition period in accordance with the policy standards.
It is reported that Shrek, as a world-renowned supplier of cans automation equipment, began to lay out the automatic production of new energy vehicle battery shell in 2017 with the application scene of horizontally extending metal stretch forming technology.
In 2018, Shrek owned 70% of Xinxiang Shengda through Xianlai Motors.
In April 2019, Shengda, Xinxiang, decided to launch a steel shell project with an annual production capacity of 3 billion cylindrical power batteries in Xinxiang City, Henan Province, with a total investment of 800 million yuan to produce 18650 and 21700 steel shells for new energy cylindrical batteries. Upon completion of the project, self-developed battery shell products will be used to support new energy battery customers in the automotive industry. In April 2020, slick announced that Xinxiang Shengda had submitted a self-developed 18650 battery steel shell sample to Xinxiang Hongli, a long-term cooperative customer, for testing and verification, and was about to start mass production and supply.
In addition, in 2019, Shrek also owned 51% of Anhui Sixiang through Xianlai Motor, producing cylindrical aluminum shells specially for lithium iron phosphate batteries. Through Anhui Sixiang in Hefei City, Anhui Province, Feidong Economic Development Zone invested 300 million cylindrical battery aluminum shells per year, with a total investment of about 500 million yuan.
On the evening of July 26, 2020, Shrek announced that the company had approved the issuance of convertible bonds with a total issuance size of 388 million yuan, of which 272 million yuan was used for cans, lids and battery shell production lines and 116 million yuan for supplementary liquidity.
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