China’s Eve Energy Soars on Plan to Lift Lithium-ion Battery Output by 92.5 Gwh
Tang Shihua
DATE:  Jun 11 2021
/ SOURCE:  Yicai
China’s Eve Energy Soars on Plan to Lift Lithium-ion Battery Output by 92.5 Gwh China’s Eve Energy Soars on Plan to Lift Lithium-ion Battery Output by 92.5 Gwh

(Yicai Global) June 11 -- Shares in Eve Energy jumped over 7 percent today after the Chinese lithium-ion battery giant announced that it will expand production capacity at two of its lithium iron phosphate battery plants by 92.5 gigawatt hours.

Eve Energy’s stock price [SHE:300014] closed up 5.6 percent at CNY108.76 (USD17.13). Earlier in the day it had reached CNY110.88.

Eve Energy will increase output at its Jingzhou base in Hubei province by 82.5 Gwh, or nearly five-fold, to 105.5 Gwh, the Huizhou, southeastern Guangdong province-based company said yesterday.

The base mainly makes cylindrical ternary lithium batteries, which are used in small electric devices including power tools. No details were given regarding the investment amount nor the estimated construction period.

Eve Energy is also building a 10 Gwh plant together with electric meter manufacturer Jiangsu Linyang Energy in Qidong, southeastern Jiangsu province. Costing around CNY3 billion (USD470 million), it should be completed in three years’ time, it said.

Eve Energy will hold a 65 percent stake in the new factory and Linyang Energy will hold 35 percent, it added. No mention was made of the type of batteries that the plant will produce.

Linyang Energy’s stock price [SHA:60122] closed up 2.05 percent at CNY7.45 (USD1.20).

Editor: Kim Taylor

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Keywords:   Capacity Expansion,Power Battery,Lithium Iron Phosphate,Linyang Energy,EVE Energy