On the evening of September 20, 2022, Xinwangda announced that its subsidiary Xinwangda Electric Vehicle Battery Co., Ltd. plans to sign a project investment agreement with the Yiwu Municipal People's Government to invest in the construction of Xinwangda Yiwu New Energy Power Battery Production Base Project , mainly engaged in the production and sales of lithium-ion power batteries and energy storage batteries.

The announcement shows that the total planned investment of this project is about 21.3 billion yuan, of which the investment in fixed assets is about 16 billion yuan, and it is planned to build a production base with a total capacity of about 50GWh of power batteries and energy storage batteries. The project is implemented in two phases. The first phase plans to invest about 12.8 billion yuan, and plans to build 30GWh cell, module, PACK and battery system production lines; the second phase plans to invest about 8.5 billion yuan, and plans to build 20GWh cells, modules, PACK and Battery systems and other production lines.

Xinwangda Automobile Battery Company will jointly fund and set up a project company in Yiwu City with the Yiwu Municipal People's Government, which will be responsible for the specific implementation of the above-mentioned projects. The registered capital of the project company is 500 million yuan, 100 million yuan from Yiwu Municipal People's Government or its platform company, and 400 million yuan from Xinwangda Automobile Battery Company. Keywords: new energy, engineering news

It is reported that after the initial investment, Sunwoda's power battery business is in a stage of rapid development. In the first half of 2022, the company's power battery shipments totaled 3.95GWh, achieving revenue of 4.200 billion yuan, a year-on-year increase of 631.92%. Editor/Zhao E