On the evening of March 4, Azure Lithium Core (002245) announced that the company signed the "Investment Agreement on Tianpeng Lithium industrialization Project" with the people's Government of Qingjiangpu District of Huaian City, Jiangsu Province and the Management Committee of Qinghe Economic Development Zone in Huaian City on March 3, 2021. It is proposed to invest in the construction of a new high-efficiency lithium-ion battery industrialization project in Huaian Qinghe Economic Development Zone, with a total investment of 5 billion yuan. Build a new 4 billion AH cylindrical lithium battery industrialization project.
According to the announcement, the project is planned to be built in two phases, with an investment of 2.35 billion yuan in the first phase, which will be implemented by the company or its holding subsidiary newly established Huaian Tianpeng Lithium Energy Co., Ltd. (provisional name, final industrial and commercial registration shall prevail).
Ulan Lithium Core said that according to the company's strategic plan, the company will further focus on the lithium battery industry and accelerate the expansion of lithium battery production and preparatory projects. The signing of this agreement will help to accelerate the capacity construction of lithium battery business, help the company's long-term development and improve economic benefits in the future.
In addition, in terms of capacity expansion, Azure Lithium Core just announced plans to invest 1.256 billion yuan to build a lithium battery project on December 14, 2020. The project will increase the annual capacity of lithium-ion batteries by 1 billion AH, and it is expected that the annual production capacity of lithium-ion batteries will exceed 300 million. After the completion of the project, the wholly-owned subsidiary Tianpeng Power supply will have an annual capacity of 700 million lithium-ion batteries.
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