Xinwangda: The subsidiary plans to build a power battery production base project in Yichang with Dongfeng Group

Sunwoda announced that its subsidiary Sunwoda Auto Battery plans to sign the "Sunwoda Dongfeng Yichang Power Battery Production Base Project with the Yichang Municipal People's Government, Dongfeng Group, and Dongfeng Hongtai" Investment Agreement.

The investment in this project is mainly engaged in the research and development, design, production, and sales of power battery cells, modules, PACKs, and battery systems. The total planned investment of the project is about 12 billion yuan, and a 30GWh power battery production base is planned to be constructed: the project is implemented in two phases. The first phase invests about 8 billion yuan and plans to build a 20GWh power battery project; Build a 10GWh power battery project.

According to the "Proposal on the Joint Investment and Establishment of Joint Ventures by Subsidiaries, Dongfeng Group and Dongfeng Hongtai" reviewed and approved by Sunwoda in June this year, the equity structure of the joint venture company is as follows: Sunwoda's automotive batteries account for 51% of the registered capital of the joint venture company; Dongfeng Group accounts for 35% of the registered capital of the joint venture; Dongfeng Hongtai accounts for 14% of the registered capital of the joint venture.

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