Kaiwo Automobile will purchase hundreds of millions of yuan of power lithium battery systems from BAK Battery

On December 12, Shenzhen BAK Power Lithium Battery Co., Ltd. ('BAK Battery') and Kaiwo New Energy Automobile Group Co., Ltd. ('Kaiwo Automobile') held a strategic cooperation signing ceremony in Nanjing. Establish a long-term strategic partnership and jointly expand the new energy vehicle business. According to the agreement, Kaiwo Automobile will purchase hundreds of millions of yuan of BAK battery power lithium battery systems, and jointly promote the development of new technologies, new materials, and new processes. The two parties will continue to optimize the development of cooperation in various aspects in the field of new energy vehicles, and continue to improve. Both parties have their own strengths in their respective fields to meet the challenges of the global new energy vehicle market. Kaiwo Automobile is a high-tech company integrating Ru0026D, processing, sales and service of new energy vehicles and core components. The group's industry is distributed throughout the country. In the first half of 2019, Kaiwo Automobile produced 4,087 complete vehicles, an increase of 70.93% year-on-year; sales of complete vehicles were 5,503, an increase of 80.01% year-on-year. As a veteran powerhouse with nearly 20 years of experience in lithium-ion battery Ru0026D and manufacturing, BAK Battery will rely on the advantages of Ru0026D technology in the lithium battery industry for many years to contribute to improving product development capabilities, quality and other competitiveness, and help Kaiwo Automobile in The new energy automobile industry continues to move forward. Huang Hongsheng, chairman of Kaiwo Automobile, said that the development of the four modernizations has become a new development trend in the automotive industry. Kaiwo Automobile continues to improve its new energy product matrix. BAK Battery has international advanced capabilities and advantages in the development and processing of power lithium batteries. In the second cooperation, the two parties will jointly build new energy passenger vehicles, logistics vehicles and other advantageous models, and jointly increase market share and achieve a win-win situation. Wang Pan, vice president of BAK Battery, said that over the years, BAK Battery has been exploring the direction of technological innovation on the basis of guaranteeing the safety of battery cells, continuously improving the energy density of battery cells, and insisting on high safety, high energy and cost-effective batteries. BAK Battery is willing to work with Kaiwo Motors to contribute to the development of my country's new energy industry. It is worth mentioning that recently, the new passenger car brand 'TianmeiIn fact, as early as 2017, Kaiwo Automobile obtained the passenger vehicle access qualification approved by the Ministry of Industry and Information Technology, and in December of the same year carried out the acceptance of the new energy access qualification, opening up the commercial and passenger market strategy. Standing at the time when the subsidy declines, relying on the advantages of Kaiwo Automobile in new energy vehicles and core components, as well as national resources and industries, Tianmei Automobile is expected to rise rapidly against the trend. The cooperation between Kaiwo Automobile and BAK Battery is also focused on passenger cars and logistics vehicles. The joint development and promotion of new technologies, new materials and new processes by both parties is also expected to help Kaiwo Automobile in passenger cars. The galloping empowerment of the category.