Recently, Ningde Times New Energy Technology Co., Ltd. (“Ningde Times”) issued two announcements on the same day that the company plans to invest in the construction of the first phase of the Guizhou New Energy Power and Energy Storage Battery Manufacturing Base in Gui’an New District, Guizhou Province. The total investment will not exceed 7 billion yuan, with a planned land area of about 1,200 mu. CATL plans to invest in the construction of the Xiamen Times lithium-ion battery production base project (Phase I) in Xiamen City, Fujian Province, with a total investment of no more than 8 billion yuan and a planned land area of about 1,000 mu.
Ningde Times stated that the investment and construction of the production base is in line with the company’s strategic development plan, and will further improve the company’s production capacity layout, meet the company’s future business development and market expansion needs, and is of great significance to promote the company’s long-term stable development.