Azure Lithium Core: plans to invest US $280 million to build 10GWh Cylindrical Lithium Battery in Malaysia

On September 23, Azure Lithium Core issued an announcement on the Shenzhen Stock Exchange. Today, the company examined and passed the "motion on investment in lithium battery project in Malaysia" and agreed to invest in lithium battery project in Malaysia, with a total investment of US $280 million to build a new 10GWh cylindrical lithium battery manufacturing project. This capacity mainly serves customers in application fields such as energy storage (portable, household side, industry and commerce), power tools, intelligent travel, clean appliances and so on.

Azure Lithium Core said in the announcement that after the completion of the project, it is expected to form the annual capacity 10GWh of various types of lithium batteries in 21-46-50, which will greatly enhance the product supply guarantee capacity of the company's overseas customers and lay a good foundation for the company's global industrial layout.

Azure Lithium said that at present, the direct overseas export sales of the company's battery business has accounted for about 50%, and the layout of overseas capacity has become an urgent need for the company's future development.

The project is implemented by a new wholly-owned subsidiary of Azure Lithium Core in Malaysia. The funds needed for the investment in this project will be solved by means of self-financing.