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EVE plans to build a cylindrical lithium battery manufacturing project of more than 3 billion yuan in Malaysia

 Last Update: 2023-01-04
 Source: Internet
 Author: User

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【Chemical Machinery and Equipment Network Star Enterprise】 On the evening of October 20, 2022, EVE Lithium Energy issued an announcement that EVE Lithium Energy Malaysia Co.
, Ltd.
, the company's grandson, intends to invest in cylindrical lithium battery manufacturing projects with its own and self-financing funds, with an investment amount of no more than US$422.
3 million (about 3.
061 billion yuan).

According to the announcement, the cylindrical lithium battery manufacturing project mainly produces cylindrical lithium-ion power tools, two-wheelers and cleaning tool battery series products
.
The project is located in Malaysia and will be built in phases for a period of no more than three years
.

The main entity of the investment is EVE Lithium Energy Malaysia, which holds 100% equity
through its subsidiary EVE Asia Co.
, Ltd.

EVE said that the project will rely on domestic manufacturing advantages and operational experience to build a production base in Malaysia and build a new production capacity of 21700 ternary cylindrical batteries to support electric two-wheelers and power tool manufacturers in Malaysia and Southeast Asia
.
The investment will further promote the smooth progress of the company's overseas business, enhance the company's comprehensive competitiveness and global market share in the electric two-wheeler and power tool market, and have a positive and far-reaching significance
for the company to improve the global industrial layout.

Large cylindrical batteries are the main direction of future development

The Battery Alliance understands that cylindrical batteries can be divided into two categories
: small cylinders and large cylinders.
The mainstream of small cylindrical batteries is the 21700 cylindrical battery, with a diameter of 21 mm
.
The cylindrical battery with a diameter of 46 mm is the main development direction
of large cylindrical batteries.

EVE has been developing and manufacturing cylindrical batteries for many years, starting from the production and manufacturing of lithium primary batteries, and gradually extending to consumer and power energy storage cylindrical batteries, such as 18 series, 21 series and 46 series cylindrical batteries, and has the technical capabilities
of 46 series large cylindrical battery industrialization.

Since the beginning of this year, EVE has repeatedly laid out cylindrical batteries:

In March, EVE said it or its subsidiary intends to establish a power battery manufacturing plant in Hungary that will produce a new cylindrical power battery
.

In April, EVE Power, a subsidiary of EVE, was selected by Chengdu Universiade as the development supplier
of the whole package project for the use of 46 series large cylindrical cells for Dayun automotive power batteries.

On August 2, EVE's first system product equipped with self-developed 46 series large cylindrical batteries was successfully rolled off the pilot
line of the research institute.

On the evening of August 11, EVE Lithium Energy announced that it intends to raise no more than 9 billion yuan for investment in power energy storage lithium-ion battery production capacity construction projects (including passenger car lithium-ion power battery projects and HBF16GWh passenger car lithium-ion power battery projects) and supplementary working capital
.
EVE mentioned in the announcement that the 46 series large cylindrical battery produced by the "passenger car lithium-ion power battery project" is a further expansion and extension of the company's original 18 series and 21 series cylindrical batteries, and at present, the company has completed the trial production of large cylindrical system products through the pilot line, and has not yet achieved mass sales
.

In September, EVE announced that its subsidiary, Hubei EVE Power Co.
, Ltd.
, received a letter from BMW Set in Germany to provide large cylindrical lithium-ion batteries
for the Neue Klasse series models of BMW Group.

Large cylindrical battery is the main direction
of EVE's future development.
The company has said that in terms of cylindrical batteries, the company has laid out two large cylindrical cells, 46800 and 46950, and is expected to release 20GWh of production capacity in 2023 and reach 40GWh
in 2024.

Capital increase in both companies

At the same time as announcing the Malaysian project, on October 20, EVE also announced in an announcement that it intends to increase capital
to its subsidiaries Chengdu EVE Lithium Energy Co.
, Ltd.
and Jingmen Xinzhubang New Materials Co.
, Ltd.
respectively.

According to the announcement, according to the company's strategic planning and business development needs, the company intends to use its own funds not exceeding RMB 250 million to increase capital to its subsidiary Chengdu EVE Lithium Energy Co.
, Ltd
.
(hereinafter referred to as "Chengdu EVE Lithium Energy").
After the completion of this capital increase, the registered capital of Chengdu EVE Lithium Energy will be changed from 50 million yuan to 300 million yuan
.

Chengdu EVE Lithium Energy was established on April 27, 2022 with a registered capital of 50 million yuan, as of June 30, 2022, Chengdu EVE Lithium Energy has total assets of 10 million yuan and net assets of 10 million yuan, EVE Lithium Energy holds 100% equity of Chengdu EVE Lithium Energy
.

EVE said that the company's use of its own funds to increase capital in Chengdu EVE Energy will meet the capital needs of its operation and development and enhance sustainable development
.

At the same time, EVE Lithium Energy intends to sign the "Jingmen New Zhoubang New Materials Co.
, Ltd.
" with Shenzhen Xinzhoubang Technology Co.
, Ltd.
(hereinafter referred to as "Xinzhoubang") and Jingmen Xinzhoubang New Materials Co.
, Ltd.
(hereinafter referred to as "Jingmen Xinzhoubang") to sign the "Jingmen Xinzhoubang New Zhubang Capital Increase Agreement", the company and Xinzhoubang will increase the capital to Jingmen Xinzhoubang by 75 million yuan with monetary funds, of which 37.
5 million yuan will be included in the registered capital of Jingmen Xinzhoubang and 37.
5 million yuan will be included in the capital reserve
of Jingmen Xinzhoubang 。 After the completion of this capital increase, the registered capital of Jingmen Xinzhoubang was changed from 150 million yuan to 225 million yuan, the company's shareholding ratio of Jingmen Xinzhoubang was changed from 20% to 30%, and the shareholding ratio of Jingmen Xinzhoubang was changed from 80% to 70%.

Jingmen Xinzhoubang's lithium-ion battery electrolyte products give priority to ensuring the company's demand
for investing in the construction of battery factories in Jingmen City.

Regarding the purpose of investment and the impact on the company, EVE said that the capital increase will help enhance the operating capacity and development stamina of the target company, maximize the interests of the company's shareholders, and increase the company's investment income; The company enjoys the priority right to purchase lithium-ion battery electrolyte products of the target company, which is conducive to the company's continuous improvement of the upstream battery raw material industry chain layout, continuously improving the stability of the supply chain, and then continuously enhancing the company's core competitiveness and profitability
.

Released 560Ah ultra-large capacity energy storage battery

It is worth noting that on the same day, EVE also released a 560Ah ultra-large capacity energy storage battery
.

On October 20, EVE lithium energy energy storage battery strategy conference with the theme of "creating 'core' to drive development and lead the energy storage T era" was held
in Huizhou, Guangdong.

EVE's LF560K battery adopts ultra-large battery CTT (Cell to TWh) technology, which is an innovative cell technology for TWh level energy storage scale, which makes the system integration simple, can achieve both the cost of the cell and the system level, and is expected to start global delivery
in the second quarter of 2024.

According to reports, based on CTT technology, LF560K battery can reduce the total cost of the system, with 560Ah ultra-large capacity, a single battery can store 1.
792kWh energy, cycle life more than 12,000 times, to meet the high economic needs
of the energy storage market.

In system integration applications, compared with LF280K battery, the use of LF560K battery can reduce the number of cells by 50%, simplify the number of pack parts by 47%, and increase production efficiency by 30%.

In addition, through the optimization of cluster level size, the container electricity can be increased by 6.
5%, adapting to industry-standard integration solutions and reducing customer costs
.

In view of the key technical problems faced by ultra-large batteries, EVE adopts "stacking technology" to solve the technical problems of LF560K battery in the design and producibility of electronic conductivity current, on the one hand, the number of laminated core capsules becomes 2 times, which solves the problem of electronic conductance current collection and reduces the DCIR of the product by 8%; On the other hand, lamination replaces winding, the length of the monopole is shortened by 100 times, and the total yield of cell production can be increased by 3%.

According to EVE Lithium Energy, "the company plans to achieve a production capacity of 100GWh of power energy storage batteries by 2025"
.
The company also proposed a new definition of an energy storage battery super factory, with a single-line capacity of 10GWh and a factory scale of 40GWh
.

Original: Over 3 billion! EVE plans to build a cylindrical lithium battery manufacturing project in Malaysia

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