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Xingyuan material plans to set up a Swedish company and invest 130 million to build an European factory in the first phase of the project.
Sep 16,2020 16:02CST
The content below was translated by Tencent automatically for reference.

SMM News: on the evening of September 15, Xingyuan material announced that the company disclosed the "announcement on signing a strategic cooperation agreement with Northvolt" and "a supplementary announcement on signing a strategic cooperation agreement with Northvolt" in March 2010. the company intends to set up a lithium-ion battery separator factory in Europe with no more than 2 billion yuan to open up the European market. At present, the company plans to set up a wholly-owned subsidiary Xingyuan material (Europe) Co., Ltd. in Sweden (tentative name, subject to the final approval results of the relevant departments), with a registered capital of 25000 Swedish kronor, and carry out the construction of the first phase of the European factory project. The investment of the first phase of the European factory is about 130 million yuan, with four new production lines of coated diaphragm, with an annual output of about 90 million square meters.

Xingyuan material analysis in the announcement that since 2020, European governments have increased subsidies for new energy vehicles. For example, at the beginning of this year, Germany increased subsidies for new energy vehicles, increasing the subsidies for pure electric vehicles and hybrid vehicles under 40,000 euros by 50%; France extended the subsidy for new energy vehicles to 2022, and the total budget also increased significantly. According to EV-Volumes data, the European new energy vehicle market is growing rapidly, maintaining a growth rate of 40% in the past three years, while there is plenty of room for growth in the future. In terms of sales, Germany, Norway, the United Kingdom, France, the Netherlands and Sweden are the main electric car markets in Europe. The trend of electrification of the European automobile industry has given rise to a large number of power batteries and the demand for lithium battery materials upstream.

As one of the mainstream lithium battery diaphragm suppliers in the world, Xingyuan material has many years of continuous operation and R & D investment accumulation, and has strong technical reserves, strong scale advantages, good cost control ability and excellent brand effect in the field of separator. In terms of production capacity, in the first half of the year, the production capacity of diaphragm new energy materials for Xingyuan lithium-ion batteries reached 730 million tons, with a capacity under construction of 1.235 billion tons, a capacity utilization rate of 75.35 percent, and an output of 275.0207 million tons.

In recent years, by strengthening the information exchange and business cooperation with the world's leading companies in the industry, the company has provided competitive lithium-ion battery separators and after-sales services to foreign well-known lithium-ion battery manufacturers, making full use of the company's brand and product advantages to take the lead in opening overseas markets.

According to the semi-annual report released by Xingyuan material, the company's sales of lithium-ion battery diaphragms in the first half of this year were 221.7933 million square meters, an increase of 45.28% over the same period last Among them, the company's overseas lithium-ion battery diaphragm achieved revenue of 111 million yuan in the first half of 2020, accounting for 40.58% of the current lithium diaphragm revenue.

Xingyuan material has taken the continuous development of overseas markets as one of the company's main development strategies, and it is expected that the company's export sales of diaphragm products will continue to grow in the future. The construction of European factories will also play a positive role in the further promotion of the company's diaphragm products in foreign markets.

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