On June 26, EVE Energy Co., Ltd released the Response Report to the Review Inquiry Letter on EVE Energy Co., Ltd's Application for Issuing Convertible Corporate Bonds to Unspecified Objects on the GEM.
The document mentioned that EVE will initiate a fundraising campaign for the 23 GWh cylindrical LFP energy storage power battery (Project I) and the 21 GWh large cylindrical passenger car power battery project (Project II).
Among them, Project I plans to increase the production capacity of cylindrical LFP batteries by about 23 GWh, which will be mainly used in passenger vehicles, household energy storage and other fields. EVE expects the potential demand from its client pool could amount to 88 GWh in the next five years based on their expressed intentions, which is enough to support the full running of this Project.
Project II will add about 21 GWh capacity to its 46-series large cylindrical battery system, which will be mainly used in passenger vehicles. Up to now, the potential demand is estimated at 392 GWh in a five-year period, which is able to secure the smooth operation of this Project.
EVE said that it has been deeply involved in the lithium battery field for many years and has built a great client pool. This fundraising campaign is feasible in terms of operating income and production-sales ratio.
Written by Alex Xie, xiehan@mysteel.com
Edited by Aggie Hu, huchenying@mysteel.com
