AutoBeta(AutoBeta.net)03/12 Report--

On March 11, Baoding Great Wall Holdings Group Co., Ltd. (hereinafter referred to as "Great Wall Holdings") and Shanghai Fosun Hi-Tech (Group) Co., Ltd. (hereinafter referred to as "Fosun Hi-Tech") signed a strategic cooperation agreement in Baoding, Hebei Province. increase and deepen strategic cooperation in the power battery industry. Wei Jianjun, chairman of the Great Wall holding Group, and Guo Guangchang, chairman of Fosun International Co., Ltd. (Fosun Hi-Tech parent company, hereinafter referred to as Fosun International) attended the signing ceremony. At the signing ceremony, Great Wall Holdings and Fosun Tech jointly announced that their subsidiaries would jointly invest in a joint venture to produce ternary lithium-ion soft package power batteries and work together to open up key links in the power battery industry. In the future, Great Wall Holdings and Fosun Hi-Tech will use their respective resources to strengthen cooperation and build an innovative cooperation model and a solid and sustainable strategic partnership.

At the signing ceremony, Honeycomb Energy Technology Co., Ltd. (hereinafter referred to as "Honeycomb Energy"), a wholly-owned subsidiary of Great Wall Holdings, signed a joint venture project agreement with Tianjin Jiewei Power Industry Co., Ltd., a subsidiary of Fosun Hi-Tech (hereinafter referred to as "Jiewei Power"). The two sides will jointly invest in the establishment of a joint venture company to produce ternary lithium-ion soft package power batteries. The newly established joint venture company will converge the core competitiveness of both sides, give full play to the advantages of Honeycomb Energy in R & D resources and vehicle platform, as well as the leading technology and industry accumulation of Jiewei Power in soft package power battery. become a new force in the industry leading power battery

According to the joint venture project agreement signed by the two sides, Jiangsu Weifeng Power Industry Co., Ltd. is proposed to be established, with Jie Wei Power holding 51% and Honeycomb Energy 49%. The joint venture project plans to invest 1.5 billion yuan to build four three-yuan soft package power battery production lines in Yancheng, Jiangsu Province, with a capacity of 2.5GWh in the first phase, and the project is scheduled to be completed and put into production in the first half of 2020.

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