Xinwangda Subsidiary Becomes a Supplier of Lithium Iron Phosphate Power Battery Cells for Shangtong Wuling

On May 25, Xinwangda issued an announcement stating that Xinwangda Electric Vehicle Battery Co., Ltd., a wholly-owned subsidiary of the company, had recently received a letter from Huating (Hefei) Power Technology Co., Ltd. regarding the E50 project of SAIC-GM-Wuling. Tongwuling E50 project supplies 142Ah lithium iron phosphate power battery cell products. Xinwangda said that Shangtong Wuling is currently one of the major domestic automobile manufacturing companies. This time, the company was selected as the supplier of 142Ah lithium iron phosphate power battery cells for the E50 project of Shangtong Wuling, marking the company’s presence in lithium iron phosphate electric vehicles. Important progress in the battery business is conducive to strengthening Xinwangda's comprehensive competitiveness in the field of lithium iron phosphate electric vehicle batteries. The company will arrange to negotiate and sign relevant contracts with Hua Ting Company as soon as possible to do a good job of follow-up work. On February 2 and February 19 this year, Xinwangda successively issued announcements stating that its wholly-owned subsidiary Xinwangda Electric Vehicles has received notification letters from Dongfeng Liuzhou Motor and Dongfeng Passenger Cars, which will provide Dongfeng Liuqi Iron Phosphate Li Lingzhi CM5EV supplies power battery assemblies and power battery assembly products for Dongfeng passenger car E70. On April 6th and 7th, Xinwangda announced again that its subsidiary Xinwangda Electric Vehicle was selected as the designated supplier of power battery parts for GAC’s HEV platform series A9E project, and as a wholly-owned subsidiary of Geely Automobile. The designated supplier of power battery cells for the PMA platform project of the company's Wei Rui company. In less than half a year, Xinwangda has successively obtained power battery designated projects from five OEMs, indicating that its power battery products have been recognized by more and more OEMs, laying a solid foundation for the growth of its power battery business. At present, Xinwangda power battery customers include Renault-Nissan Alliance, Volvo, Geely, Ejet, Shangtong Wuling, Dongfeng Liuqi, Dongfeng Passenger Car, Xiaopeng, Yundu, etc. As of the end of 2020, Xinwangda's power battery capacity has reached 10GWh, and it is currently accelerating the construction of the Nanjing New Energy Project. The project has a total investment of 12 billion yuan and a planned production capacity of 30GWh. The first phase of the plant has been officially mass-produced.