Great Power holds the power battery system for SAIC-GM-Wuling Automobile Co., Ltd

On January 9, Great Power (300438) announced that it has signed a strategic cooperation framework agreement with SAIC-GM-Wuling Automobile Co., Ltd., and Penghui Energy will provide an adaptive power battery system for the SAIC-GM-Wuling multi-model platform to achieve sustainable development. The common development.

SAIC-GM-Wuling was formally established on November 18, 2002. It is a large-scale Sino-foreign joint venture automobile company jointly established by Shanghai Automotive Group Co., Ltd., General Motors (China) Investment Co., Ltd. and Guangxi Automobile Group. The company currently has four manufacturing bases in Liuzhou Hexi Headquarters, Liuzhou Baojun Base, Qingdao Branch and Chongqing Branch. In 2017, the company achieved an annual production and sales volume of 2.15 million units, sales revenue of 110 billion, profit and tax of 13.8 billion, of which Baojun brand production and sales exceeded 1 million mark, passenger car sales accounted for 72%, SAIC-GM-Wuling has become the mainstream Car companies.

The announcement shows that this time with the SAIC-GM-Wuling signed the "Framework Agreement on Strategic Cooperation of New Energy Vehicle Industry" aimed at comprehensively achieving long-term cooperation. The two sides will explore and cooperate in research and development of standardized and platformized power battery systems, share resource platforms, and accelerate the positive direction. Development; Penghui Energy will provide an adaptive power battery system for the SAIC-GM-Wuling multi-vehicle platform to achieve sustainable and common development; Penghui Energy will actively develop and provide new energy vehicle derivative products such as E-power with SAIC-GM-Wuling. Bao, etc., jointly build a comprehensive ecological chain of new energy vehicles.

In addition, the two parties will carry out the cooperation of waste power battery recycling and recycling industry, jointly explore the construction plan of waste power battery recycling network, jointly develop the waste power battery recycling business model, and share battery recycling resources. The two sides will carry out in-depth cooperation in the post-market operation of new energy vehicles. SAIC-GM-Wuling provides vehicle vehicles. Penghui Energy provides vehicle operation data analysis, and provides complete power supply solutions in various aspects such as sales, operation and shared vehicle fields in the vehicle market. The program promotes the operation of new energy vehicles.

It is worth noting that on September 17, 2018, Penghui Energy's lithium-ion power battery and system project at the Changzhou base started with a total investment of 5.8 billion yuan, including 10Gwh lithium-ion battery and 5Gwh lithium-ion battery PACK project. Penghui Energy newly developed the passenger car of SAIC-GM-Wuling, and cooperated with the Zhumadian Municipal Government to jointly promote the “Liuzhou Model” of the new energy vehicle in Zhumadian. At present, the company mainly sells passenger car customers in the batch, Zhidou and SAIC-GM-Wuling, and commercial vehicle customers Dongfeng Special Auto and Guangtong Bus.

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