On August 11, 2022, Yiwei Lithium Energy announced that it plans to raise no more than 9 billion yuan, which will be used to invest in power storage lithium-ion battery capacity construction projects and supplement working capital after deducting issuance costs.

It is understood that the power storage lithium-ion battery capacity construction projects include the passenger car lithium-ion power battery project and the HBF16GWh passenger car lithium-ion power battery project, and it is planned to invest 3.4 billion yuan and 2.6 billion yuan in raised funds respectively.

It is reported that the passenger car lithium-ion power battery project is planned to be implemented by Yiwei Power, a subsidiary of Yiwei Lithium Energy. The total investment amount is about 4.375 billion yuan, and the project construction period is 3 years. The project plans to build a 46-series automatic production line for power storage lithium-ion batteries in Jingmen City, Hubei Province. After the project is put into production, it will form an annual production capacity of about 20GWh46 series of power storage lithium-ion batteries.

The HBF16GWh passenger car lithium-ion power battery project is planned to be implemented by Yiwei Power, a subsidiary of Yiwei Lithium Energy, with a total investment of about 4.127 billion yuan. The project plans to build an automated production line for square lithium iron phosphate batteries in Jingmen City, Hubei Province. After the project is put into production, it will form an annual production capacity of about 16GWh of square lithium iron phosphate batteries.

In addition, Yiwei Lithium Energy also plans to use 3 billion yuan of the raised funds to supplement working capital. Yiwei Lithium Energy mentioned in the announcement that the 46 series of large cylindrical batteries produced by the "passenger vehicle lithium-ion power battery project" is a further expansion and extension of the company's original 18 series and 21 series cylindrical batteries. The pilot production of large cylinder system products has been completed through the pilot line, and mass sales have not yet been achieved. Editor / Zhao E