Ningde Times issued an announcement today, deliberating and passing the "Proposal on the Investment and Construction of the Luoyang New Energy Battery Production Base Project of the Ningde Times", and the company plans to invest in the construction of the Luoyang New Energy Battery Production Base Project.
The announcement stated that with the rapid development of new energy industries at home and abroad, the market of power battery and energy storage industry continues to grow. In order to further promote business development, meet market demand and improve production capacity layout, the company plans to invest in Yibin District, Luoyang City, Henan Province. Construction of Luoyang new energy battery production base project with a total investment of no more than RMB 14 billion.
On September 28, 2022, the twelfth meeting of the third board of directors of the company reviewed and approved the "Proposal on the Investment and Construction of the Luoyang New Energy Battery Production Base Project of CATL" with 8 votes in favor, 0 votes against, and 0 abstentions.
The announcement stated that CATL intends to rely on Luoyang's industrial foundation and location advantages to promote cooperation with Luoyang City in the fields of new energy battery research and development, new energy industry ecological construction, and new energy technology application, and further enhance the company's core competitiveness.
The Luoyang new energy battery production base project construction content is a new energy power battery system and energy storage system production line. The planned land area of the project is about 1,700 mu. It is expected that the construction period of the project will not exceed 36 months from the start of construction.
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