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Jul 14,2021
As the new energy vehicle market grows faster, EVE builds production lines and expands upstream to ensure the delivery of high-quality power battery products for automakers.
Benefiting from the continuous boost from the supply and demand side and the national policy, the new energy vehicle industry is in the stage of rapid development at present. China Association of Automobile Manufacturers (CAAM) data shows that in June th-year increase of 1.3 times and 1.4 times. In the first half of the year, the production and sales of new energy vehicles in China both exceeded 1.2 million, with a year-on-yearis year, the production and sales volume of new energy vehicles in China reached 248,000 and 256,000, with a month-on-month increase of 14.3% and 17.7%, and a year-on increase of more than 2 times.
While the development of new energy vehicles is in full swing, the supply pressure of power battery is increasing sharply. According to statistics from CAAM, the output of domestic power batteries in June was 15.2GWh, up 184.3% year on year. The entire power battery industry produced 74.7GWh in the first half of the year, achieving a year-on-year growth rate of 217.5%.
Since the beginning of 2021, EVE's existing sites and production lines have been running at full capacity. But the products are still in short supply. In order to ensure the supply of downstream automakers, EVE is actively preparing for battle and starting a "running" expansion mode.
On February 19th, EVE announced that it planned to invest and construct "Passenger Car Lithium Ion Power Battery Project (Phase I)" and "xHEV Battery System Project (Phase I)" with self-owned and self-raised funds.
On March 10th, EVE announced that it planned to invest in the construction of "Passenger Car Lithium Ion Power Battery Project (Phase II)" with its self-owned and self-raised funds.
In addition to investing in a plant to expand battery production capacity, EVE is also actively expanding upstream in order to ensure a steady supply of upstream raw materials.
On March 31th, the "Annual Production of 100,000 Tons of LFP battery Project", jointly set up by EVE and Dynanonic Co., Ltd., the leading enterprises of lithium iron phosphate cathode materials in China, was officially launched in Qujing City, Yunnan Province.
On May 24th, EVE issued an announcement that EVE Asia, a wholly owned subsidiary of EVE, signed the Joint Venture Agreement for Indonesia Huayu Ni-Co Latite Nickel Selting Project with Yongrui, Glaucous, Huayou International Cobalt and LINDO to build a Hydrometallurgical smelting of laterite nickel ore factory in Indonesia. Annual production is about 120,000 tons of nickel and 15,000 tons of cobalt.
On July 9th, EVE announced that it plans to acquire 28.125% equity of Jinkunlun Lithium with RMB 140 million, and invests no more than RMB 1.8 billion in stages to build a project with an annual output of 30,000 tons of lithium carbonate and lithium hydroxide. And it plans to invest RMB 110 million to acquire a 5% stake in Dahua Chemical, who owns the right to mine lithium in Qinghai's Dachaidan Salt Lake, an area of 89.75 square kilometers.
So far, EVE has successively carried out strategic cooperation with upstream companies such as CAPCHEM, Dynanonic and BTR. It also participated in the private placement project of Huayou Cobalt to layout nickel, electrolyte, lithium iron phosphate cathode, high nickel cathode materials. This will further improve the layout of the upstream raw material field, and lay a solid foundation for achieving the 200GWh production capacity target.
New energy vehicle industry is a key force for China's manufacturing industry to achieve future transformation and upgrading and power batteries are the basic parts for electric vehicles. “To make the best lithium battery in the world and promote the development of new energy” is the long-lasting goal and pursuit of EVE.
