The official foundation of Geely Xinwangda power battery project is expected to be offline by the end of the year.

On January 19, Xinwanda officially announced that its Geely Xinwanda project construction base located in Zaozhuang High-tech Zone had laid the foundation.

It is reported that in July last year, Shandong Geely Xinwanda Power Battery Project, which was jointly invested by Xinwanda Group, Geely Group and Zhejiang Geerun Group, was officially established. The joint venture company is funded by Geerun Automobile, Xin Wanda and Geely Automobile Group in the form of currency, and the three parties intend to subscribe to 41.5 million yuan, 30 million yuan and 28.5 million yuan respectively, with a shareholding ratio of 41.5%, 30% and 28.50%, respectively.

The joint venture company will mainly engage in the development, production, sales and after-sales service of lithium-ion batteries, lithium polymer batteries, power batteries, energy storage batteries, battery management systems and rechargeable battery packs; and technical services, testing services and consulting services for lithium batteries and related products.

Its products are mainly used for Geely to create a new second-generation HEV hybrid system with all independent intellectual property rights, which can be widely used in many Geely models, with the characteristics of low fuel consumption, low emissions, high performance and so on. The project covers an area of about 451 mu and will lead to more than 2000 employees when it is completed.

At that time, an analysis pointed out that at a time when the power battery enterprises are competitive and the power battery supply is in short supply, this time Xinwanda signed a "joint venture contract" with Geely and set up a joint venture company, which is undoubtedly a win-win situation for both of them. For Xinwanda, with the help of the resource advantages of Geely Group and Zhejiang Geerun, Xinwanda can give full play to its technological R & D advantages in HEV batteries and further enhance its market position in the field of power batteries. For Geely, a joint venture with Xin Wanda can ensure the stability of its hybrid battery supply when hybrid has become a must for car companies.

In response to the official foundation of the Shandong Geely Xinwanda power battery project, an Pengfei, deputy general manager of Geely Group Weirui Electric vehicle, said that the Geely Xinwanda power battery project will help give full play to Xinwanda's technological research and development advantages in HEV batteries and Geely's resource advantages, and is of important strategic significance for both sides to expand the market and long-term development, and the two sides will promote the project construction in an orderly, effective and effective manner. Make concerted efforts to promote the project to be put into production as soon as possible.

As for the pace of the project, Ye Zhilin, assistant president of Xinwanda Group, revealed that the Jilin project plans to start the civil construction of the plant in June this year, and the equipment will be installed and debugged in September this year, and the product is expected to be offline by the end of this year.