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Ningde era signed a cooperation agreement with Honda
Jul 13,2020 08:30CST
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The content below was translated by Tencent automatically for reference.

SMM News: power battery head enterprise Ningde era circle of friends continues to expand. On July 10, Ningde Times announced that the company and Honda (Honda Technology Research Industry Co., Ltd.) signed a strategic cooperation agreement to deepen cooperation in the research, development, supply, recycling and other fields of power batteries, so as to promote the common development of the two sides as long-term business partners.

The cooperation between the two sides is divided into two main aspects: capital cooperation and commercial cooperation. In terms of capital cooperation, Honda plans to subscribe for Ningde era's non-public offering shares through its domestic subsidiary Honda Technology Research Industry (China) Investment Co., Ltd., accounting for about 1 per cent of the total share capital after the non-public offering.

In addition, when the Ningde era issues new shares in the future, under the circumstances permitted by applicable law, the Ningde era will provide certain priority rights to Honda within the agreed scope, and Honda will exercise the priority rights so that the proportion of shares held after the exercise of the rights shall not exceed the proportion of shares held by the company before the new shares are issued.

Commercial cooperation mainly involves battery supply, development cooperation and battery recycling or reuse. During the validity period of the agreement, Ningde Times will guarantee the supply of the agreed types of batteries to Honda on certain commercial preferential terms, subject to the separate purchase agreement signed between the company and Honda or its subsidiaries.

The two sides will also carry out joint development around power batteries, as well as joint research on future basic technologies. In terms of battery recovery and reuse, the two sides will jointly study the feasibility of recycling waste batteries, preparing lithium raw materials, or cascade utilization of power batteries.

Data show that Honda is a world-renowned vehicle manufacturer, and this agreement further strengthens the global partnership between the company and Honda, while helping to enhance both sides' sustainable profitability and operating performance, as well as market position and influence.

Data show that 2.35GW was installed in Ningde era in June this year, up 46.2% from the previous month, with a market share of more than half again. If you add in the share of SAIC, Jiangsu era and Dongfeng era, the installed capacity of Ningde era is as high as 2.44GWhh, and the market share has also increased to 51.9%.

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