Shulou(Shulou.com)11/24 Report--

CTOnews.com, October 31, according to the release of Dongfeng Motor, following the signing of the project of Xinwangda Dongfeng Yichang Power Battery production Base in September, the construction of the factory has also been officially launched in October.

On October 30, the project of Xinwangda Dongfeng Yichang Power Battery production Base officially started in the Biological Industry Park of Yichang High-tech Zone, with a total investment of 12 billion yuan. Planning and construction of 30GWh power battery capacity, the project is divided into two phases, one of which is 20GWh capacity.

All the projects will become a new energy power battery production base integrating power battery cells, modules, research and development, production and sales, with an estimated annual output value of more than 24 billion yuan and providing about 3500 jobs. it will effectively boost the Hubei automobile industry to extend the supply chain and strengthen the chain.

CTOnews.com learned that on June 17 this year, Dongfeng Group signed a joint venture agreement with Dongfeng Hongtai and Xinwanda Electric vehicle Battery Co., Ltd. According to the agreement, the three parties will set up a joint venture company to improve the competitiveness of cell technology and the ability to guarantee the supply of battery resources. The three parties will jointly research, develop and produce batteries, components and related components for automotive power and energy storage batteries to meet the needs of Dongfeng Group, Dongfeng Hongtai and related parties for automotive battery products.

According to the terms of the joint venture agreement, the registered capital of the joint venture company is 500 million yuan. Dongfeng Group will contribute RMB 175 million to the joint venture, Dongfeng Hongtai 70 million, and Xinwanda electric car battery 255 million. After the establishment of the joint venture, Dongfeng Group, Dongfeng Hongtai and Xinwanda Electric vehicle Battery will own 35%, 14% and 51% respectively.

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