Xingheng Power 16GWh Power Battery Project settled in Yancheng, Jiangsu Province

On April 11, the 16GWh power battery project of Xingheng Power supply was settled in Yancheng Economic and technological Development Zone, which is the third largest production base in China after Jiangsu Suzhou Base and Anhui Chuzhou Base.

It is understood that the total investment of the project is about 5 billion yuan, and the land requisition is about 400 mu. The entire production line will adopt the most advanced production equipment. After the project is completed and put into operation, it will achieve an annual invoice sales income of 10 billion yuan and a tax revenue of 300 million yuan.

Feng Xiao, chairman and president of Xingheng Power Co., Ltd., said that Yancheng Economic Development Zone has many advantages, such as superior business environment, strong industrial foundation, convenient transportation, good industrial support policies and so on. The settlement of the project in the Economic Development District of Yancheng is another important milestone in the history of Xing Heng's development, which will help Xing Heng to further open up the market and expand the industry.

Data show that Xingheng Power was established in December 2003, has been committed to electric light vehicles, new energy vehicles, energy storage and other power areas of research and development, production and sales, with manganese series multi-composite lithium as the core of a number of power battery production lines, the products are mainly used in electric vehicles, electric bicycles, communications and environmental protection of new energy fields.

After 18 years of development, Xingheng Power supply has carried out global industrial layout, with two major production bases in Suzhou and Chuzhou, and two major subsidiaries in Europe and India, with a production capacity of 10.2GWh in 2022. The construction of the Yancheng project will further accelerate the release of Xingheng's superior production capacity and speed up the global development layout of enterprises.

In the field of light electric vehicles, from 2018 to 2021, Xing Heng ranked first in the domestic market for lithium-ion battery shipments of electric light vehicles for four consecutive years, with a market share of more than 40%. At the same time, Xingheng power supply lithium batteries are also widely exported to Germany, France and other 22 countries and regions.

In the field of electric vehicles, Xing Heng Power has cooperated with Dongfeng, Changan, Chery, Geely, Ruichi, Wuling and FAW to provide power energy for more than 170000 electric vehicles. In 2020, Xingheng products are equipped with Wuling Hongguang mini EV, a popular electric car, and become its core supplier of lithium batteries.

It is worth mentioning that Xingheng Power recently announced the completion of a new round of strategic financing of 950 million yuan, led by the Deep Venture Capital Manufacturing Industry Transformation and upgrading New Materials Fund (limited partnership). The total financing amount of this round is expected to reach 1.5 billion yuan.

It is reported that after obtaining this round of financing, Xing Heng Power will accelerate multi-dimensional innovation in technology strategy, product strategy, business strategy and so on. it is conducive to the company's lithium battery technology innovation and industrialization, carry out multi-scene product layout, deeply integrate into the lithium battery industry chain to develop power exchange and recycling business, and create more value for the lithium battery industry.