Tsingshan and SAIC to Co-Invest in 20 GWH Power Battery Project

Published: Mar 25, 2022 13:51 (GMT+8)

Save

SHANGHAI, Mar 25 (SMM) - Ruipu Energy, one of Tsingshan Industry’s subsidiaries, announced on March 24 that Tsingshan Industry and SAIC have signed an agreement to jointly build a 20GWh power battery and system project in Liuzhou, Guangxi, with a total investment of 5.5 billion yuan.

The project will rely on Tsingshan Industry’s advantages in the research and development and production of new energy batteries and upstream raw materials, as well as SAIC-GM-Wuling’s advantages in the new energy vehicle market.

SAIC is accelerating its transformation to electrification. In 2021, its sales of new energy vehicles were 732,600 units, a year-on-year increase of 128.93%. In January this year, its sales exceeded 72,000 units, a year-on-year increase of 25.5%. Its sales exceeded 45,000 units in February this year, a year-on-year increase of 48.4%.

SAIC Tsingshan

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

15 hours ago

Capchem: Forecast Net Profit Growth of 104.53%-111.22% YoY for First Three Quarters

Capchem disclosed its earnings forecast for the first three quarters. The company expects net profit attributable to shareholders of the publicly listed firm for the first three quarters of 2026 to be 1.53 billion to 1.58 billion yuan, up 104.53%-111.22% from the same period last year.

15 hours ago

Lopal: Subsidiary Signs Long-Term Sales Agreement for LFP Cathode Materials

Lopal announced in an evening filing that its second-tier holding subsidiary Nanjing Lithium Source and Jiyao Tongxing signed a Strategic Cooperation Framework Agreement. Under the agreement, provided that product settlement prices are competitive and delivery cycles, quality, and technology meet requirements, Nanjing Lithium Source and its affiliated producers will sell a combined 378,600-567,800 mt of LFP cathode materials to Jiyao Tongxing from 2026 to 2030, with specific sales volumes determined by orders. The specific unit price is subject to fluctuations in major raw material prices and will be determined monthly by both parties in accordance with the agreement terms.

15 hours ago

16 hours ago

China Southern Power Grid's unified charging service platform surpasses 10 million kWh in single-day charging volume

According to China Southern Power Grid, self-driving travel was popular during the National Day holiday, with concentrated release of long-distance travel demand for NEVs and significant climbs in charging load at key scenarios such as highway service areas and scenic spots. On the first day of the holiday, the daily charging volume of China Southern Power Grid's unified charging service platform "Shun Yichong" surpassed 10 million kWh for the first time, reaching 10.4431 million kWh, up 24.51% YoY.

16 hours ago