Xinwanda: the subsidiary plans to build a power battery production base in Yichang with Dongfeng Group, with a total investment of about 12 billion yuan.

CTOnews.com Sept. 15 news, today, Xin Wanda announced that its subsidiary Xinwanda Automobile Battery plans to sign the "Investment Agreement for Xinwanda Dongfeng Yichang Power Battery production Base" with the people's Government of Yichang City, Dongfeng Group and Dongfeng Hongtai.

CTOnews.com learned that the investment in the project is mainly engaged in the research, design, production and sales of power battery cells, modules, PACK and battery systems. The total investment of the project is about 12 billion yuan, planning and construction of 30GWh power battery production base: the project is divided into two phases, the first phase investment is about 8 billion yuan, the planning and construction of 20GWh power battery project; the second phase investment of about 4 billion yuan, planning and construction of 10GWh power battery project.

The motion on joint venture company jointly invested by subsidiaries, Dongfeng Group and Dongfeng Hongtai passed by Xinwanda in June this year shows that the ownership structure of the joint venture company is as follows: Xinwanda car battery accounts for 51% of the registered capital of the joint venture company; Dongfeng Group accounts for 35% of the registered capital of the joint venture company; Dongfeng Hongtai accounts for 14% of the registered capital of the joint venture company.