Ningde Times Yibin Power Battery Project Officially Starts Investment of 10 Billion

Release time:

2019-12-26 14:21

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Ningde Times Yibin Power Battery Project Officially Starts Investment of 10 Billion

On December 26, it was learned from the relevant person in charge of Ningde Times that the power battery manufacturing base project of Ningde Times in Yibin City, Sichuan Province has officially started.According to the plan, Ningde Times will invest 10 billion yuan to build a power battery production line with an annual production capacity of 30GWh..

It is understood that the Ningde Times Yibin power battery manufacturing base project will be constructed in two phases. The first phase of the project will not exceed 26 months from the start of construction, and the second phase of the project is planned to start within two years after the first phase is put into operation;The total area of the project is about 1000 mu, of which the first phase of the project covers an area of about 400 mu and the second phase of the project covers an area of about 600 mu.

In September this year, Ningde Times issued an announcement stating that according to the company's strategic development plan, in order to further promote the company's production capacity layout, the company plans to invest in the construction of a power battery manufacturing base in Yibin City, Sichuan Province, with a total project investment of no more than 10 billion yuan.

Regarding the purpose of investing in the construction of the Yibin base, Ningde Times explained in the announcement at that time that "Sichuan is an important base for the western automobile industry, with a broad consumer market, a strong industrial foundation and strong technological innovation capabilities in the automobile field.The company's investment is in line with the company's strategic development plan and will further improve the company's production capacity layout to meet the company's future business development and market expansion needs ".

It is worth noting that this is not the first time Ningde era layout of the western market.In 2018, Ningde Times cooperated with Yibin Municipal Government and Tianhua Ultra-clean to establish Yibin Tianyi Lithium Industry Co.

According to data released by the China Association of Automobile Manufacturers, in the first 10 months of this year, my country's production and sales of new energy vehicles completed 983000 and 947000 respectively, an increase of 11.7 and 10.1 respectively over the same period last year.The growth in production and sales of new energy vehicles has directly driven the increase in battery loading.Data show that in the first 10 months of this year, China's power battery loading totaled 46.2GWh, an increase of 33.2 percent over the same period last year, of which Ningde era loading 22.81GWh, accounting for 49.31 percent.

In this context, the Ningde era performance is rising.The financial report shows that in the first three quarters of this year, the operating income of Ningde era was 32.855 billion billion yuan, an increase of 71.7 percent over the same period last year;The net profit attributable to shareholders of listed companies was 3.464 billion billion yuan, up 45.65 year on year;Net cash flow from operating activities was 10.324 billion billion yuan, up 81.99 year on year.

However, due to factors such as rising competition in the industry, the Ningde era is also facing certain challenges.With more and more traditional car companies entering the new energy vehicle market, various power battery companies have carried out various layouts.Among them, Guoxuan High Tech has successively reached cooperation with mainstream auto companies such as BAIC New Energy and Chery Automobile. The two parties have continuously increased their weight in the new energy passenger vehicle market through joint ventures and cross-shareholding.In July this year, BYD and Toyota jointly announced that they would jointly develop pure electric vehicle products and the power batteries required for these products.

"Due to the many factors affecting the construction of the project, there is a risk that the construction of the Yibin project will not be completed on schedule or that the construction cost will be higher than expected.The market situation of lithium-ion power batteries is affected by the promotion of downstream new energy electric vehicles and relevant industrial policies, and the market competition is becoming increasingly fierce. If the market situation changes significantly, it will have an impact on the economic benefits of this project.Ningde era previously said in the announcement.

Article Source:Beijing Business Daily

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