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

CTOnews.com, June 29, CTOnews.com noted from the business registration information that Changan Automobile and Ningde Times recently jointly established a new battery company called time Changan Power Battery Co., Ltd. The company's main business includes battery manufacturing and battery sales, which belongs to Yibin City, Sichuan Province.

According to relevant information, the registered capital of time Changan Power Battery Co., Ltd. is 1.5 billion yuan, and its shareholders are Ningde Times, Deep Blue Automobile and Changan Automobile. Among them, Ningde era holds 51%, Shenlan Automobile 30%, Chongqing Changan Automobile 19%.

At present, large-scale new energy car manufacturers generally choose to cooperate with large battery suppliers such as Ningde Times to set up battery companies. The names of battery companies established in cooperation with Ningde Times often have the words "time Power", such as Guangzhou Automobile era Power, SAIC era Power, time FAW Power and so on.

CTOnews.com previously reported that Changan Automobile said on the interactive platform of the Shenzhen Stock Exchange on May 16 that the battery joint venture between Changan Automobile and Ningde Times would be registered within the first half of the year and be ready for production within this year. The joint venture battery company is mainly engaged in the production of power cells, with an annual production capacity of 25 GWh.

Changan Automobile and Ningde era established a cooperative relationship as early as three years ago. In May 2021, Changan Automobile teamed up with Ningde Times to launch the high-end new energy brand Avita. Shortly thereafter, the Ningde era made a strategic investment in Avita, acquiring a 23.99% stake in Avita and becoming its second largest shareholder.

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