SMM: on the evening of August 11, Ningde Times announced that the 19th meeting of the second board of directors of the company examined and passed the "motion on the investment in the Yibin project of power battery construction by time Geely Power Battery Co., Ltd., a holding subsidiary". Time Geely Power Battery Co., Ltd. (hereinafter referred to as "time Geely"), a holding subsidiary, in order to further meet customer needs, promote business development and consolidate its market position, it is planned to invest in the construction of a power battery project in Lingang Economic and technological Development Zone, Yibin City, Sichuan Province, with a total investment of no more than 8 billion yuan.
Photo: screenshot of the announcement of Ningde Times New Energy Technology Co., Ltd.
According to the data, time Geely is a joint venture company jointly funded by Ningde Times and Zhejiang Jirun Automobile Co., Ltd. (hereinafter referred to as "Zhejiang Jirun"), which was registered and established on April 3, 2019. Mainly used for power battery production and sales business. Among them, the proportion of shares held by Ningde era is 51%, and that of Zhejiang Jirun is 49%.
Enter 2020, Ningde era crazy expansion, excluding this investment project, it is expected that the next three years power battery capacity will exceed 160GWH, more than double the capacity of 53GWh by the end of 2010. With regard to this investment, Ningde Times said that the implementation of the project will help to promote the company's long-term development and strategic layout, strengthen the deep cooperation between the company and important customers, and make full use of the existing resources and their own advantages of both sides. Further expand the company's business scale, so as to enhance the company's sustainable profitability and core competitiveness.
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