Weilan Lithium released an announcement on the Shenzhen Stock Exchange. The company reviewed and approved the "Proposal on Investment in Lithium Battery Projects in Malaysia" today, agreeing to invest in the construction of lithium battery projects in Malaysia, with a planned total investment of 280 million yuan. USD, a new 10GWh cylindrical lithium battery manufacturing project. This capacity mainly serves customers in application fields such as energy storage (portable, household, industrial and commercial), power tools, smart travel, and clean electrical appliances.
Weilan Lithium Core stated in the announcement that after the completion of the project, it is expected to form an annual production capacity of 10GWh of various types of lithium batteries on 21/46/50, which will greatly enhance the company's ability to guarantee product supply for overseas customers and lay a good foundation for the company's global industrial layout. .
Blue Lithium said that at present, the company's battery business directly overseas export sales accounted for about 50%, and overseas production capacity layout has become an urgent need for the company's future development.
The project is implemented by the newly established wholly-owned subsidiary of Blue Lithium in Malaysia. The funds needed for this project investment will be solved by Weilan Lithium Core through self-financing.
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