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EVE Power plans to invest $370 million to build several lithium battery production lines

2021.07.22

On July 22th, the proposal of EVE’s subsidiary to sign a contract with Jingmen High-tech Zone Management Committee was reviewed and approved at the board meeting.


EVE Power, a subsidiary of EVE, intends to sign a contract with Jingmen High-tech Zone Management Committee to invest in the construction projects of 3GWh cylindrical LFP cell production lines, 0.7GWh cylindrical NCM cell production lines, 3GWh prismatic LFP cell production lines, 4GWh prismatic NCM cell production lines and 1.5 GWh prismatic NCM cell production lines and the process testing institute. Total investment in fixed assets of the projects reaches about 370 million USD.


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Basic information about the investment subject


1. Production lines and auxiliary facilities projects of 3GWh cylindrical LFP cells and 0.7GWh cylindrical NCM cells 


(1) Project construction content: total investment in fixed assets of the project is about 77 million dollars including VAT. After the completion of construction, the production capacity of cylindrical LFP cell and cylindrical NCM cell is expected to reach 3GWh and 0.7GWh per year respectively. Among them, the total fixed asset investment of the 3GWh cylindrical LFP cell production lines and auxiliary facilities project is about 64 million dollars while the total fixed asset investment of the 0.7GWh cylindrical NCM cell production line and auxiliary facilities project is about 12 million dollars.


(2) Project Site: the site of the investment project is located in the east of Guohao Wenchuang, south of Huake South Road, west of Longjing Avenue and north of Tianle Road, which has been acquired by EVE Power.



2. Production line and auxiliary facilities project of 3GWh prismatic LFP cells


(1) Project construction content: total investment in fixed assets of the project is about 84 million dollars including VAT, and the production capacity of prismatic LFP cells is expected to be 3GWh per year after completion.


(2) Project Site: the site of the investment project is located in the east of Kaixin, south of Shanghai-Chengdu Expressway and north of Huake Road, which has been acquired by EVE Power.



3. Production line and auxiliary facilities project of 4GWh prismatic NCM cells


(1) Project construction content: total investment in fixed assets of the project is about 123 million dollars including VAT, and it is expected to form a prismatic NCM cells production capacity of 4GWh per year after completion.


(2) Project Site: the site of the investment project is located in the east of Longjing Avenue and south of Huake Road, which has been acquired by EVE Power.



4. Production line and process test institute project of 1.5GW prismatic NCM cells


(1) Project construction content: total fixed asset investment of the investment project is about 93 million dollars including VAT. After the completion of the project, it is expected to form a prismatic NCM cells production capacity of 1.5GWh per year.


(2) Project Site: the investment project is located in the east of Longjing Avenue and south of Huake Road, which has been bid by EVE Power.


This investment is conducive to both parties to give full play to their respective resources and advantages, expand the production capacity of power energy storage batteries, optimize the EVE's industrial structure, further promote its development in the lithium-ion power battery market, and enhance the influence and comprehensive competitiveness in the new energy industry, which is in line with EVE's development strategy and the interests of all shareholders.


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