On the evening of December 8, EVE announced that its subsidiary EVE Power had signed the Contract with the Management Committee of Jingmen High tech Zone to invest in the construction of 60 GWh power storage battery production line and auxiliary facilities. The total investment of the project was about Yuan 10.8 billion, including about Yuan 8 billion in fixed assets investment.
According to the contract agreement, EVE Power entrusts Jingmen High tech Company to be responsible for the customized construction of the project. The Company entrusts its subsidiary project company to be responsible for implementing the relevant construction tasks. EVE Power implements the relevant construction management tasks of the project, and the project investment does not exceed Yuan 3.7 billion.
It is reported that EVE announced this investment plan on January 31st, and the project officially started construction the day after the announcement. The phase I of the project is expected to be completed in the second quarter of 2024 and will be fully put into operation by the end of 2024. The mass-produced product is the new generation energy storage battery LF 560K.
Edited by Cassie Li, lixiangying@mysteel.com