SMM June 24th: In recent years, China's new energy vehicles and...

SMM June 24th:

In recent years, China's new energy vehicles and power battery industry has developed rapidly. According to relevant data, the cumulative output of China's power batteries reached 70.6GWh in 2018, and the sales volume reached 62.3GWh, while the total installed capacity was 56.9GWh. The increase was 56.3%. In the face of the rapid expansion of production, the competition among major battery manufacturers has become more intense. Not only the three countries of China, Japan and South Korea have competed in the competition, but also Europe, America and Southeast Asia have joined the war without smoke. In order to better understand the global lithium battery.

The new development of industrial investment, SMM has compiled the investment news of lithium batteries for various enterprises this year, and does not update regularly.

China

Panasonic plans to increase production capacity in China and add two power battery production lines: At the end of 2018, according to foreign media reports, Matsushita plans to spend "hundreds of millions of dollars" to deploy two new production lines in China's battery factory. This is in response to the growing market demand for power batteries, and Panasonic is planning to nearly double its power battery capacity at its Chinese plants.

At the end of 2015, Matsushita invested 2.7 billion yuan to build the first power battery factory in China. The plant's production capacity is close to 5GWh, which can meet the demand of 200,000 electric vehicles. After adding two production lines, the production capacity is expected to increase by 80%.

On March 13 this year, the Panasonic Dalian plant was officially mass-produced. In addition, Panasonic has two other power battery factories in China, all in Jiangsu Province: The factory in Suzhou is dedicated to producing power batteries for Tesla. It will be put into production in 2017 and will reach 35GWh capacity this year and next. Another The factory is located in Wuxi and officially started construction at the end of September this year. It is expected to start production in September 2019. By then, the plant will achieve an annual production capacity of 30Gh, with an output value of about 100 billion yuan.

LG Chem is investing 7.2 billion in China to build a battery factory: In early January, LG Chem announced that it plans to invest another 1.2 trillion won (about 7.2 billion yuan) by 2020 to build a power battery factory and a small battery factory in Nanjing Xingang Development Zone. The two factories each invested 600 billion won, and the relevant investment contract was signed in Nanjing on January 9. LG Chem said that the investment in China is mainly to meet the growing demand for batteries from new energy vehicles and electronic products.

Samsung plans to build a power battery and MLCC project in Tianjin, which will be laid out in 2020: In December last year, Tianjin and Samsung China revealed that Samsung plans to adjust some product structures in Tianjin, invest in new projects such as power battery production lines and automotive MLCC factories (multilayer ceramic capacitors), with an additional investment of 2.4 billion US dollars. Earlier, some insiders said that Samsung was eyeing the market after the 2020 Chinese new energy vehicle subsidy was withdrawn. Samsung SDI also clearly stated in the first quarter of this year's financial report: "We will prepare for the (China's) new energy vehicle subsidy policy to be completed by 2020. In addition, Samsung Electric Co., Ltd. invested in the construction of automotive MLCC factory in Tianjin Development Zone. The project is expected to be completed by the end of next year and put into operation in 2020. Upon completion, Tianjin will become one of Samsung Motor's major overseas MLCC production bases.

Ningde era and Honda cooperate to develop pure electric vehicle batteries, which will be built in the first half of the year: According to "Nihon Keizai Shimbun" reported on February 10, China's Ningde Times New Energy Technology Company (CATL) announced that it will cooperate with Honda to develop lithium-ion for pure electric vehicles (EV). battery. The Ningde era will supply batteries to pure electric vehicles and plug-in hybrid vehicles (PHVs) that Honda will introduce in the future. In the Ningde era, batteries were supplied to large automobile companies such as BMW and Volkswagen in Germany. In the future, we will strengthen trade with Japanese companies including Honda and open up the world market. Ningde era and Honda formally reached an agreement on the 4th. The Ningde era will supply Honda with 56 GWh of batteries in a long-term contract up to 2027. In order to cooperate with Honda's research and development, the Ningde era will build a base in Zhangmu County in the first half of 2019.

Geely cooperated with Qianjiang Motorcycle to develop power lithium battery project: On January 28th, Qianjiang Motorcycle issued the “Announcement on the Related Transactions of the Holding Company's Trusted Development of Power Lithium Batteries and Systems Project”, the announcement stated that Qianjiang Motor's holding company Taizhou Qianjiang New Energy Research Institute Co., Ltd. (“Qian Jiangxin” The Energy Company" and Jingzhou Geely Automobile Research and Development Co., Ltd. ("Jingzhou Geely Company") signed the "Technology Development (Consignment) Contract". Jingzhou Geely Company intends to let Qianjiang New Energy Company become its battery supplier and entrust the power lithium battery development project to Qianjiang New Energy Company with a contract consideration of RMB 2,892,200 (including tax). The projects involved in the technical contract include the development of a soft pack of ternary 50Ah lithium battery, a soft pack of ternary 37Ah lithium battery, a soft pack of ternary 47Ah lithium battery, a 48V start-stop lithium battery and the above lithium battery system.

Star Source Materials will supply more than 40 million flat lithium battery separator products to Feneng Technology in 2019: On January 28, the latest announcement of Xingyuan Materials showed that the company signed a cooperation agreement with Fueneng Technology Co., Ltd. (“Fu Neng Technology”), which determined the procurement plan and purchase unit price of lithium battery separator products in 2019. Specific elements. According to the contract, the two parties agreed that the demand for lithium battery separator products for 2019 will be no less than 40 million square meters. Due to factors such as market, customer demand and national policies, the annual total purchase volume is allowed to be adjusted within 20%. According to Xingyuan Material, if the agreement guarantees are fully executed, the estimated contract amount is about 102 million yuan, which is expected to have a positive impact on the company's 2019 annual operating results. This cooperation will provide a good foundation for the company to further and comprehensively cooperate with Fueng Technology.

Weifeng's 2 billion power battery line is scheduled to go into production in August 2019: In mid-January, Shenzhen Weifeng New Energy Co., Ltd. and Hubei Enshi Municipal Government formally signed an investment agreement for power battery production projects. The project has a total investment of about 2 billion yuan and is scheduled to be put into operation in August 2019. Project planning: Before the end of August 2019, four power battery production lines were built. In 2020, two new power battery cell production lines and solid-state battery production lines will be built. In 2021, four new power battery production lines and two power battery core production lines were newly built. It is initially estimated that the project will form a complete industrial chain system in 2022, with an annual income of over 4 billion yuan.
At the same time, Weifeng New Energy will start production of solid-state batteries in 2020, and is the first company in China to start mass production of solid-state batteries.

Fujian Longyan Gaoge micro-deduction invested 400 million micro lithium battery project: In mid-January, Longyan Gaoge Micro-Button Technology Co., Ltd. ("Longyan Gaoge Micro-Button") invested in the construction of a miniature lithium battery project in Fujian Liancheng Industrial Park and started construction. The total investment of the project is 400 million yuan. The project will be constructed in two power stations. The first phase will invest 200 million yuan to build an annual production capacity of 30 million button-type battery production projects. It is planned to be completed and trial production at the beginning of this year. The second phase will invest 200 million yuan to build an annual production capacity of 30 million needle-cell batteries. . After the completion of the second phase of the project and its completion, the annual output value is expected to reach 500 million yuan.

Invested 680 billion to start the power battery / energy storage project: On March 25th, the concentrated start-up ceremony for the expansion of effective investment projects in Xiaoshan District of Zhejiang Province was held at the site of the Wanxiang Innovation Energy City Project. The total number of major projects that participated in the centralized construction was 20, with a total investment of 86.7 billion yuan. Among them, Wanxiang Innovation Energy City Battery and Energy Storage Project with a total investment of 68 billion yuan.

The Xingying Technology Power Battery Project will be put into production within 6 years of production capacity: On April 17, 2019, the Jiangxi Xingying Technology Production Ceremony and the 2019 China New Energy Entrepreneur Summit Forum were held in Shangrao, Jiangxi. It is reported that Xingying Technology has invested a total of 3 billion yuan in the project, and plans to achieve 6GWh of production capacity within three years.

Lishen Battery (Qingdao) Phase I 4GWh lithium iron phosphate project was put into operation and signed a contract for supply of 2 billion yuan: On April 29th, the first phase of the production and new product launching ceremony of Lishen Battery Qingdao Base was held in Qingdao, Shandong. The overall plan of the project is to produce 10GWh lithium iron phosphate square lithium ion battery system. The production line can be compatible with lithium iron phosphate and ternary system. The flexible design of the wire body provides a comprehensive solution for electric vehicles and energy storage. The first phase of the project has a total investment of 1.57 billion yuan and a designed annual production capacity of 4GWh. After the production, it will provide battery support for 20,000 buses or 120,000 passenger cars per year. The second phase of the project will reach a total capacity of 10GWh. It will become the largest power battery production base in Shandong Province, with an annual output value of more than 10 billion yuan. The event site also completed the signing of the relevant strategic cooperation agreement and the signing of the supply contract of 2 billion yuan.

Huayou Cobalt and LG Chem jointly produce automotive power battery cathode materials: The start-up ceremony of the automotive power battery cathode material project jointly invested by Huayou Cobalt and LG Chemical was held in Wuxi. The total investment of the project is 34 billion yuan, of which 2.5 billion yuan was invested in 2019, and the total capacity is planned to be 100,000 tons. The project is planned to be completed and trial production will be completed in December 2019. In May 2020, it will be mass-produced and officially sold.

The first phase of the Far East Foster 12GWh power battery project was officially put into operation: On May 10, Far East Smart Energy Co., Ltd. (abbreviation: Smart Energy Stock Code: 600869), the wholly-owned subsidiary Far East Foster New Energy Jiangsu Co., Ltd. (referred to as: Far East Foster) 12GWh power battery project first phase production ceremony Held in Yixing, Jiangsu Province. The first phase of the Far East Foster 12Gwh power battery project covers an area of 528 acres, with a total investment of 2.36 billion yuan and a construction area of 200,000 square meters. It has a test center, a laboratory and a highly automated, informative and intelligent battery production line. The first phase of planning production capacity of 2GWh, led by Dr. Wu Songjian, the core research and development team, while achieving high specific energy, is committed to creating a "high security, long life, low cost" soft package power battery, the product will meet high-end new energy vehicles And the needs of the energy storage sector.

Invested 490 million US dollars SK Innovation plans to set up a second battery factory in China: South Korea's SK Innovation (SK Innovation) said on Wednesday (May 14) that it plans to invest 577.9 billion won (about 488.3 million US dollars) to set up a second electric vehicle battery factory in China, and this move is also a bet that China will be on Korean batteries. The producer opens the market. SK Innovation is expanding its battery capacity worldwide. Since last year, it has set up new plants in Hungary, China and the United States, with a total investment of 5 trillion won. SK Innovations said its second plant in China is designed to meet the growing demand for global electric vehicle battery orders, but it did not disclose its partner, plant location and capacity planning in China. Last month, the president of SK Innovative Battery Business was quoted as saying that SK Innovation is discussing with Chinese partners and Volkswagen to form a separate battery production joint venture plant.

Yiwei Lithium Energy Raises Funds to Promote the Development of Huizhou Subsidiary Battery Field: Yiwei Lithium Energy announced that the company plans to raise no more than 3.5 billion yuan to expand the production scale of power batteries in China to promote the development of Huizhou Yiwei Lithium Energy in the field of new energy batteries. The first phase of the energy storage 20GWh power battery project started: On May 18, the first phase of the 20GWh power battery project invested by Hubei Laidu Energy Storage Technology Co., Ltd. was started in Yicheng, Hubei. The overall scale of the project is 20GWh. The plan is implemented in three phases. The first phase of the construction period is 20 months, the investment scale is 1.825 billion yuan, and the production scale is 4GWh. It mainly connects the energy storage, electric bus market and military market. The second and third phases are 16GWh, construction period is 24 months.

Sinochem Group invested 10 billion yuan to build a 20GWh ternary lithium battery project; On May 20, Sinochem Chemicals Co., Ltd. and Yangzhou Economic and Technological Development Zone signed a memorandum of understanding on the site to invest in the vehicle ternary lithium battery project in Yangzhou Development Zone, with a total investment of over 10 billion yuan and an overall planned annual production of 20GWh. The lithium battery production line is implemented in three phases.

The first phase of the Levien 10GWh power battery project was officially put into operation: On May 23, the first phase of the 10GWh power battery project of Anhui Liweineng Power Battery Co., Ltd. (hereinafter referred to as “Leiwei”) was put into operation and the second phase of the groundbreaking ceremony was held in Zhangzhou, Anhui. It is reported that the project has a total investment of 5 billion yuan and is planned to be completed in two phases. The first batch of 2.5GWh production line for the first phase of the project was put into production today. The first phase of the project has a design capacity of 5 GWh, mainly producing soft-pack and cylindrical lithium-ion power batteries. Among them, soft pack and cylindrical ternary lithium battery will be mainly used in medium and high-end passenger cars; cylindrical lithium iron phosphate battery target market is electric bicycle, power storage and other fields. In May, the installed capacity of ternary batteries was 3.75GWh, accounting for 66.1%, a decrease of 6.7% from the previous month; the installed capacity of lithium iron phosphate battery was 1.73GWh, accounting for 30.5%, up 3.2% from the previous month.

The first phase of BYD's 5 billion yuan power battery base was built: On May 28th, BYD Hunan Changsha Ningxiang Power Battery Production Base Project was started. The first phase of the base plans to invest about 5 billion yuan, mainly to provide power battery products for BYD's new energy vehicles, including the manufacture of core products such as power battery cells, modules and related supporting industries. Basic situation of power battery installed capacity in 2019 In January 2019, the total installed capacity of power batteries was 4,977 MWh; in February, the total installed capacity of power batteries dropped by more than half to 2511.1 MWh; the total installed capacity of power batteries in March was similar to the total installed capacity in January, which was 5085.5 MWh; The total installed capacity increased slightly, at 5406.1MWh; the total installed capacity of power batteries in May was 5668.4MWh, a slight increase from last month.

Europe and America

Blackstone Switzerland plans to invest 200 million euros to build a large power battery factory in Europe: On January 14, Blackstone Resources AG ("Blackstone") announced that it will invest 200 million euros (about 1.541 billion yuan) to build a large power battery plant in Erfurt, Thuringia, Germany. It is reported that the battery factory is wholly owned by Blackstone and the construction of the factory will be undertaken by Blackstone. Blackstone hopes that the follow-up development will receive financial support from the EU Research and Development Fund and all levels of government in Germany. Blackstone said that the large-scale power battery factory invested in Germany is aimed at manufacturing the batteries needed for the next generation of electric vehicles. According to Blackstone, according to the plan, after the completion of the first phase of the project, 100 million batteries will be produced each year to meet the demand of 2.5-10 million new energy electric vehicles. The capacity expansion in subsequent stages will be adjusted according to market demand.

Volkswagen set up a power battery production department to adapt to large-scale mass production of electric vehicles: In late January, Volkswagen said it will set up a division to produce electric vehicles. The company is preparing to produce electric vehicles on a large scale and is undergoing a comprehensive overhaul of the parts and components division that currently produces engines, gearboxes and steering components. Volkswagen plans to invest 870 million euros (about 985.45 million US dollars) to develop electric vehicle parts by 2020. The newly opened battery division will be responsible for the manufacture of batteries and battery packs and supervising the recycling of used batteries. The Volkswagen brand plans to invest more than 11 billion euros (about $12.5 billion) in electrification, digitization, autonomous driving and mobile travel services by 2023, of which 9 billion euros will be used for the electrification of models. The Volkswagen brand currently has two all-electric vehicles. By 2025, this number will increase to about 20, and the planned output will exceed 1 million. In China, the core market of the Volkswagen brand, Volkswagen is building two electric vehicle factories in Anting and Foshan, and is expected to start production in 2020.

Mercedes-Benz Poland established a battery factory with a planned investment of more than 1 billion euros: On January 22, the reporter learned from the Mercedes-Benz official that Mercedes-Benz will establish a battery factory in Jawor, Poland, to expand the global battery production network to nine. Mercedes-Benz plans to invest more than 1 billion euros (about 1.2 billion US dollars) to build a global battery production network, including factories in China, Germany and the United States. At present, Mercedes-Benz's global battery production network has been formed, including the first and second battery factories in Kamenz, Germany (the latter will be completed in 2018), the Turckheim battery factory in Germany, the Beijing battery factory, the US towers. Kalusa battery factory and Thai battery factory. These factories can prepare to export battery packs as needed. Mercedes-Benz plans to launch more than 50 electric vehicles by 2022, launching at least one electric car model for each of its models. The first electricized model will be the pure electric EQC produced in 2019 by the Bremen plant in Germany and the BBAC plant in Beijing.

South Korean battery manufacturer SK Innovation plans to invest US$5 billion in the US: On January 8th, according to foreign media reports, Korean battery manufacturer SK Innovation has previously announced an important investment plan for the US factory. But the company is now considering additional investments, which are designed to boost its competitiveness enough to compete with Tesla's Gigafactory 1 super factory in Nevada. At present, SK Innovation is considering expanding its investment scale in a more high-profile way, and its goal is to be able to “sit on” with Tesla and Panasonic. "Automotive News" reported: "SK Innovation CEO Friday (January 4, local time) said that SK Innovation is considering reinvesting up to $5 billion in manufacturing operations in the United States."

The Ningde era will have a capacity of 100 GW in the world's largest battery plant in Dejian: According to the German "Economic News" reported on the 13th, the president of China's Ningde era Europe, Matthias Gutegraf, announced at a car seminar in Bochum, Germany, that the Ningde era will be built in Erfurt, Germany. The largest battery factory.

Volkswagen pushes battery partners to build super factories with at least 1,000 megawatts of capacity: According to reports, Volkswagen CEO Herbert Dees said that the company is promoting partners including South Korea's SK Innovation to build electric vehicle battery plants with a capacity of at least 1 GW (1000 MW). Volkswagen launched a 50 billion euro electric vehicle battery bidding process last year, and has confirmed South Korea's SK Innovation, LG Chem and Samsung SDI, as well as China's Ningde Times New Energy Technology Co., Ltd. as its strategic battery supplier.

In the Ningde era, the Finnish car company Valmet built battery factory: According to reports, Finnish car manufacturer Valmet plans to build a large-scale electric vehicle battery factory in Salou, Finland. The plant is scheduled to open this year and employs more than 300 people. In January 2017, Ningde Times invested 30 million euros (about 227 million yuan) to participate in Valmet, and obtained 23.08% of the shares, becoming its third largest shareholder. The two parties will work together to provide project management, engineering design and battery tank technical cooperation for electric and hybrid vehicles. As an independent automobile manufacturing outsourcer, its customers include Saab, Opel, Porsche (Experience Center) and Mercedes-Benz and many other vehicle manufacturers. If it is counted from 1969, it has already produced 1.2 million cumulative OEMs. a car. In addition, it has signed a contract with Mercedes-Benz (models including Mercedes-Benz GLC, etc.) and Porsche (order quantities of 230,000 units) in Finland. Investing more than 5 billion euros in France and Germany to join forces to power the battery: The development of electric vehicles has been hampered by the lack of reliable battery technology to alleviate the “mileage anxiety” of electric vehicles.

On May 2nd, France and Germany formed a partnership to jointly invest in finding a solution. The finance ministers of the two countries announced the establishment of this consortium in Paris, and they said they would invest 5 billion to 6 billion euros (about 5.6 billion to 6.7 billion US dollars) to the project. The European Commission encourages governments to increase investment in this area and is concerned that Europe is lagging behind other countries in the development of electric vehicles due to failure to make progress in battery technology.

Asian countries have taken the lead in taking action. Investing more than 600 million euros Fuergy Technology plans to build a factory in Germany: According to foreign media reports, China's lithium battery company Farasis Energy plans to establish the company's third battery factory in Germany (Fu Neng Technology has established two factories in Zhangzhou and Zhenjiang), plans to invest more than 600 million euros . The new plant is expected to have a capacity of 6GWh in the first phase. The battery will be officially put into operation in 2022. In the future, the plant can further upgrade its production capacity to 10GWh. In December last year, the company announced that it has signed a cooperation agreement with Daimler. From 2021 to 2027, it will provide Daimler with a total of 140GWh of batteries in seven years.

Investing nearly one billion euros Volkswagen plans to establish a battery production plant in Germany: On the evening of May 14th, the Volkswagen Group announced that it will establish a battery production plant with its partners in Lower Saxony (Salzket). For this reason, Volkswagen intends to invest nearly one billion euros to promote this plan. At the same time, the Volkswagen Supervisory Board proposed that for the Mann Energy Program (ES) and Germany's RENK AG, the management board should expand its business in the field of mechanical engineering through joint ventures, partners, all sales or partial sales. Future development direction. In addition, Volkswagen has “regained” TRATON SE’s initial public offering (IPO) plan and decided to prepare for the summer break of 2019. Hans Dieter Pötsch, chairman of the Volkswagen Group Supervisory Board, said: “Focus on core business is vital to the group.” He said that he hopes to ensure the Group's battery capacity through the establishment of a strategic partnership, and also hopes to further expand the Group's production capacity in Europe. To support its development plan. The UK invested 28 million pounds to develop electric vehicle batteries and build factories: According to foreign media reports, the British government invested 28 million pounds (about 36 million US dollars) to develop electric vehicle battery and build a leading battery factory. The UK's Department of Commerce, Energy and Industrial Strategy revealed in a statement on Thursday that the battery industrialization center is located in Coventry in central England. The funds invested this time are only initial investment, with a total investment of about 80 million pounds.

Southeast Asia and India

India plans to establish the first lithium-ion battery super factory: On January 23, according to an Indian Economic Times report on January 23, India plans to build the country's first kilowatt-hour lithium-ion battery plant for electric vehicles. The project will be part of the “Made in India” initiative to increase the domestic production efficiency of key components of electric vehicles.

Recently, India's LIBCOIN consortium, Magnes Energy Technology Co., Ltd., India Bharat Heavy Electric Co., Ltd. reached an agreement with the Indian government, heavy industry and public enterprise departments to establish India's first lithium-ion battery super factory. Rajant Duggal, chairman of the LIBCOIN consortium, commented: "We plan to become India's largest manufacturer of lithium-ion batteries and become a pioneer in the market. The profit generated by the project in the Indian automotive industry is undoubtedly exciting. The capacity of the battery plant will increase from the initial 1 GWh to the final 30 GWh. The start-up date and other details have not yet been announced, and the company is discussing it.

Qingshan Industrial invested US$3 billion to build stainless steel and electric vehicle battery factories in India: On January 18, Chairman of the Board of Directors of Qingshan Industrial, Xiang Guangda, announced at the 2019 Guadalajara Summit in Gujarat that it would invest $3 billion in Dholera (Toleda) to build stainless steel and electric vehicle battery factories. It is reported that the investment will be jointly carried out by Qingshan Industrial India joint venture company ChromeniSteel. Kromeni Steel Pte Ltd is currently involved in the establishment of a large stainless steel complex in Mundra, Kuchi. The project was implemented after the signing of a memorandum of understanding during the 2017 Gujarat summit. The Krommeni Steel Pte Ltd project is a major leap forward in fulfilling the dream of Indian Prime Minister Moody's “Made in India”. Within one year of signing the MOU, Qingshan Industrial began construction of the first phase of the project, which is expected to be completed within a record 14 months.

Indonesia wants to build a lithium battery center target 2025 electric vehicles account for 20% of domestic production vehicles: On January 29, the Deputy Minister of Industry of Indonesia stated that Indonesia’s new electric vehicle policy is about to be finalized, and the government will provide financial incentives to foreign automakers in the future. In addition, the Indonesian government plans to provide battery manufacturers with tax and fee reduction policies to create a lithium battery center image. Harjanto, Deputy Minister of Industry of Indonesia, said: "Our goal is to have 20% of all vehicles produced in Indonesia by 2025 as electric vehicles." He also mentioned that he has already discussed with Japanese and South Korean car manufacturers. Harjanto said that the $4 billion (about RMB 26.8 billion) lithium battery project currently being built in Sulawesi is expected to be completed in the next 16 months.

Malaysia will carry out 18650 cylindrical battery research and mass production: In late January, Malaysia plans to mass-produce 18,650 cylindrical batteries for electric vehicles and fixtures. The study will be conducted by the Malaysian Automotive Robotics and Internet of Things Research Institute (MARii) in collaboration with an unnamed local company. Currently, Malaysia is conducting a three-month feasibility study on the project. Thereafter, the local company will be responsible for the production of the battery. According to the timetable, Malaysia hopes to start mass production of the 18650 cylindrical battery by the end of this year. At present, according to the project leader, the battery electrolyte supplier is already in place, and the battery anode can also be used directly, but the battery cathode production is the real challenge. For this reason, it may take several months to set up a battery cathode production line. At present, there is no such energy storage device in Malaysia. Especially for rural areas that have not yet connected to the power grid and have huge access to the power grid, the lithium ion battery-based energy storage system can operate effectively. In addition, the country can also benefit from the global electric car boom.

Guoxuan Hi-Tech and Tata Motors will form a battery joint venture in India: Guoxuan Hi-Tech announced on the evening of May 13 that the wholly-owned subsidiary Hefei Guoxuan and Tata AutoComp recently signed a “Joint Venture Agreement” in Hefei and has been approved by the higher authorities of both parties. The two parties intend to jointly invest in setting up a joint venture company in India. Hefei Guoxuan will invest 40 million Indian rupees in cash and will hold a 40% stake in the joint venture company. The main products of the joint venture include the design, development, verification and manufacture of battery modules and battery packs, as well as battery management systems for a wide range of passenger and commercial vehicles in the region.

[转载需保留出处 - 上海有色网] 【SMM干货】2019年全球锂电池行业拟投放产能一览（持续更新中） https://news.smm.cn/news/100940309