On the afternoon of July 9, German time, Ningde Times New Energy Technology Co., Ltd. signed an investment agreement with the state government of Thuringia, Germany. According to the agreement, the Ningde era will set up a battery production base and a smart manufacturing technology R&D center in Erfurt, Thuringia, Germany, for 240 million euros (about 1.87 billion yuan).
The Ningde era Thuringian battery production base will be built in two phases, mainly engaged in the research and development and production of lithium-ion batteries. It is planned to be put into operation in 2021. After reaching production in 2022, it will form 14Gwh capacity, which is expected to provide about 600 jobs for the local area. The products manufactured by the battery production base will be supplied to famous global car companies such as BMW, Volkswagen, Daimler, Jaguar Land Rover and PSA.
Zeng Yiqun, Chairman of Ningde Times, said: “In the first step of investment in Europe, we chose Germany. We hope to bring the world's most advanced power battery technology to Germany. By forming a localized power battery supply capacity in Europe, we can stay closer. European customers provide more timely and effective product solutions to better respond to customer needs faster."
The Minister of Economy of Thuringia, Wolfgang Tiefensee, praised the Ningde era: "We are very pleased that the global leader in the lithium-ion battery industry such as Ningde era has settled in Thuringia. Investment in the Ningde era is one of the most important investments in Thuringia in the past decade, regardless of For the Ningde era, Thuringia, or the European new energy automobile industry has far-reaching significance."
Founded in 2011, Ningde Times focuses on the development, production and sales of new energy vehicle power battery systems and energy storage systems, and is committed to providing first-class solutions for new energy applications worldwide. In 2017, the shipment of lithium-ion power batteries in Ningde era was 11.84GWh, and the global market share of power batteries was 17%, ranking first.
Since 2014, Ningde has established subsidiaries in Germany, Hong Kong, France, the United States, Canada and Japan. In February 2017, Ningde Times invested 30 million euros in shares of Valmet Automotive Moy Co., Ltd. (Valmet Automotive Moy Oy) and obtained a 22% stake in the company. Through the comprehensive arrangement of overseas acquisitions, overseas production bases, and global R&D centers, the globalization system of the Ningde era has been improved. The completion of the Thuringian production base in Ningde era will further enhance the brand influence and core competitiveness of Ningde era in Europe.
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