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To deepen the distribution of new energy, Baoneng invested 3 billion yuan in power batteries

To deepen the distribution of new energy, Baoneng invested 3 billion yuan in power batteries

The layout of the new energy vehicles of Baoneng Group began to expand into the field of power batteries. On November 19th, Shenzhen Hongpeng New Energy Technology Co., Ltd. (Hongpeng New Energy) was incorporated with a registered capital of 3 billion yuan. Shenzhen Municipal Market Supervision Administration public information shows that Baoneng Group's subscribed amount of 2,97 billion yuan, accounting for 99% of the shares, Baoneng Group's holding company Shenzhen Baoneng Logistics Co., Ltd. subscribed for 30 million yuan, holding 1%.

The business scope of Hongpeng New Energy includes research and development of lithium-ion batteries, battery materials, lithium polymer batteries, fuel cells, power batteries, and waste power batteries. And technical services, performance testing and technical consultation of lithium batteries and related products.

Baoneng Group has been working on the layout of new energy vehicles since 2017. In October 2017, Baoneng Group signed a project cooperation framework agreement with Hangzhou Fuyang District Government and Hangzhou Xintiandi Group. The three parties reached an intention to settle down with an annual output of 300,000 new energy vehicle projects and Xintiandi Real Estate Complex. It is planned to be invested and constructed by Baoneng Group with a total land area of about 3,000 mu and a total investment of about 14 billion yuan.

In December 2017, Baoneng Group acquired 51% stake in Qoros Auto for 6,63 billion yuan and held Qoros Auto. In the same month, Baoneng Group started construction of 30 billion new energy automobile industrial park invested in Guangzhou. The first phase of the industrial park plans to produce 500,000 new energy vehicles and related supporting projects.

In August of this year, Baoneng Group established Baoneng Automobile Sales Co., Ltd. and Baoneng Automobile Import and Export Co., Ltd. On October 16th, Baoneng Group signed a series of investment cooperation agreements with Kunshan , Jiangsu, involving six high-end manufacturing projects such as new energy vehicles.