Lithium iron phosphate cell again! Xin Wanda was appointed by SAIC GM Wuling.

On the evening of May 25th, Xinwanda (300207) announced that Xinwanda Electric vehicle, a wholly owned subsidiary of the company, recently received a letter from Huating (Hefei) Power Technology Co., Ltd., regarding the SAIC GM Wuling E50 project, supplying 142Ah lithium iron phosphate power battery products for the Shangtong Wuling E50 project.

According to Xin Wanda, Shangtong Wuling is currently one of the major automobile manufacturing companies in China, and the company has been selected as the supplier of 142Ah lithium iron phosphate power battery battery for Shangtong Wuling E50 project, which marks the company's important progress in lithium iron phosphate electric vehicle battery business and helps to enhance Xintong's comprehensive competitiveness in the field of lithium iron phosphate electric vehicle battery.

Battery Network noted that the car companies that Xinwanda has established cooperative relations include: Renault-Nissan Alliance, VOLVO, Geely, easy Jet, Shangtong Wuling, Dongfeng Liuqi, Dongfeng passenger cars, Xiaopeng, Yundu and so on.

In terms of orders, in addition to the just announced order for the Shangtong Wuling E50 project, Xinwanda has received a number of power battery orders during the year: on April 7, Xinwanda Electric vehicle received a letter of intent from Weirui, a wholly owned subsidiary of Geely, about the development of the power battery cell of the PMA platform project, which will supply power battery battery products for its PMA platform project. On April 6, Xinwanda announced that it had been selected as the designated supplier of power battery parts for the A9E project under GAC's HEV platform series. On February 19th, Xinwanda Electric vehicle announced that it had received a letter of notification from Dongfeng passenger car about the selection of the designated supplier of power battery parts for E70, supplying its E70 with power battery assembly products. On February 2nd, Xinwanda Electric vehicle received a notification letter from Dongfeng Liuzhou Automobile Co., Ltd., regarding the selection of the supplier of lithium iron phosphate Lingzhi CM5EV battery pack, to supply its lithium iron phosphate CM5EV with power battery assembly products.

In terms of overseas customer development, according to a research report released by Western Securities, Xinwanda has been supplying Renault DACIA Spring produced by Eaget since the fourth quarter of last year, and the supply is expected to reach 40, 000 units this year. In addition, the company's HEV products supplied to Renault Nissan also began to ship in the first quarter, and the company's full-year power revenue is expected to more than double as major overseas customers gradually expand.

In the first quarter of 2020, Xinwanda Power began to expand its business, with revenue of nearly 70% of the whole of 20 years. By the end of 2020, the company has 6GWh power cell production capacity, including Huizhou 4GWhs, Nanjing 2GWhs, the company plans to add 2-4GWh production capacity in 2021, when the total capacity will reach 8-10GWh.

In addition to the significant expansion of the vehicle power battery business, Xinwanda Electric vehicles are also making efforts to expand their business in the field of electric ships. On the evening of April 2, Xinwanda announced that Xinwanda Electric vehicle has recently obtained the Chinese ship class type recognition certificate, and the certified product name is "Lithium Iron Phosphate Battery". The product is suitable for ships and offshore facilities. the certificate is valid until March 10, 2025.

Xinwanda said that with the in-depth development and application of lithium iron phosphate products, the acquisition of this certificate is conducive to the company's ship business market development, while promoting lithium iron phosphate products to new applications.