On December 14, Sunwoda Electric Vehicle Battery Co., Ltd., a wholly-owned subsidiary of Sunwoda, signed the "Project Investment Agreement" with the Zaozhuang High-tech Industrial Development Zone Management Committee. It is planned to invest 20 billion yuan to establish a project company in the Zaozhuang High-tech Industrial Development Zone to be responsible for the construction of the Zaozhuang Project with an annual production capacity of 30GWh power batteries and energy storage batteries.
According to the agreement, Sunwoda is responsible for the construction and operation of the project, mainly engaged in R&D technical services, production, sales and after-sales technical services of power batteries and energy storage batteries. After the project is completed, the annual output value is expected to be about 20 billion yuan.
In 2021, the company's power battery projects successively landed in Nanchang, Jiangxi and Zaozhuang, Shandong. While the business layout continues to expand, the power battery business continues to make significant breakthroughs, and the power battery has entered the trading volume enlarged stage. Data show that from July to November this year, Sunwoda's installed capacity entered the top 10 for five consecutive months. At the same time, according to the monthly data of power battery from January to November, Sunwoda has also successfully entered the top 10 in domestic installed capacity.
The investment meets the company's strategic needs, helps to enhance the company's comprehensive competitive strength in the power battery and energy storage battery business, further improves the company's layout in the new energy industry chain, and meets the company's needs for future new energy business development and market expansion, which plays an important and positive role in the future development of the company's power battery and energy storage battery business.