On September 18, the signing ceremony of the project of Sunwoda Dongfeng Yichang Power Battery Production Base was held in Wuhan. Dongfeng Motor Group Co., Ltd. (hereinafter referred to as: Dongfeng Group) and Yichang Municipal Government, Xinwangda Electric Vehicle Battery Co., Ltd. (hereinafter referred to as: Sunwoda Electric Vehicle Battery), Dongfeng Hongtai Holding Group Co., Ltd. (hereinafter referred to as: Dongfeng Hongtai) signed a cooperation agreement to invest in the construction of Sunwoda Dongfeng Yichang power battery production base project in Yichang City, and plan to build a 30GWh power battery production base.
It is understood that on June 17 this year, Dongfeng Group entered into a joint venture agreement with Dongfeng Hongtai and Sunwoda electric vehicle batteries. According to the agreement, the three parties will establish a joint venture company to jointly research, develop and produce cells, components and related components for automotive power and energy storage batteries to meet the needs of Dongfeng Group, Dongfeng Hongtai and related parties for automotive battery products. The 30GWh power battery production base project will be constructed in two phases.
According to the terms of the joint venture agreement, the registered capital of the joint venture company is RMB 500 million. Dongfeng Group will invest RMB 175 million in the joint venture, Dongfeng Hongtai will invest RMB 70 million, and Sunwoda Electric Vehicle Batteries will invest RMB 255 million. After the establishment of the joint venture, Dongfeng Group, Dongfeng Hongtai and Sunwoda Electric Vehicle Batteries will own 35%, 14% and 51% of the shares respectively.
Post time: Sep-19-2022