Invest 8 billion yuan Xinwangda plans to build 20GWh power battery and energy storage battery production base

On the evening of March 17th, Xinwanda announced that its subsidiary Xinwanda Electric vehicle Battery Co., Ltd. (hereinafter referred to as "Xinwanda car Battery") signed a project investment agreement with the Shifang municipal government to raise 8 billion yuan to build a production base for 20GWh power batteries and energy storage batteries.

The announcement shows that Xinwanda car battery will set up Shifang Xinwanda New Energy Co., Ltd. in Shifang City to be responsible for the specific implementation of the project. The content of the project is to build a new production base for power battery and energy storage battery cell, module, PACK, battery system and so on. The project is planned to be implemented in 2022, with a construction period of about 12 months, subject to the project implementation plan.

Talking about the impact of this investment, Xin Wanda believes that the construction of the project will help to promote the operation and development of the company's power battery and energy storage battery business in an all-round way, which is in line with the strategic needs of the company. it will help to enhance the company's comprehensive competitiveness in power battery and energy storage battery business.

In recent years, Xinwanda has increased its production capacity frequently, and it is not uncommon for it to invest in the power battery business.

For example, in March this year, Xinwanda announced that Xinwanda car battery plans to invest in the construction of 30GWh power battery project in the Zhuhai municipal government area, with a total investment of about 12 billion yuan, of which the total investment in fixed assets is about 10 billion yuan.

In December last year, the company announced that its subsidiary Xin Wanda car Battery plans to set up a project in Shandong Zaozhuang High-tech Zone to build the "annual capacity 30GWh power battery and energy storage battery Zaozhuang project", with a total investment of about 20 billion yuan. It is reported that the project started in Zaozhuang last month.

In August of that year, Xinwanda also announced that Xinwanda automobile battery will set up a joint venture with the Management Committee of Nanchang Economic and technological Development Zone to jointly build Xinwanda Nanchang power battery production base, with a total investment of about 20 billion yuan, which will form a total 50GWh battery and 50GWh battery system production line.

Of course, in addition to power batteries, Xinwanda has also continued to increase its energy storage business in recent years. For example, in January this year, the company signed a cooperation framework agreement with Zhongneng Luhui to conduct in-depth cooperation in businesses such as photovoltaic power generation and energy storage.