Tianneng battery Co., LTD. announced on the evening of March 30, 2022 that it plans to use a wholly-owned subsidiary, Zhejiang Tianneng New Energy Co., Ltd. as the main body of project implementation, to add 583 acres of land in Changxing District, South Taihu Industrial Cluster, Huzhou, in three phases and make an investment in the construction of energy storage and power lithium battery projects with an annual output of 15GWh. The estimated total investment of the project is about 5.17 billion yuan. Among them, the construction capital is 3.37 billion yuan, which is used for the construction of workshops and supporting facilities, equipment purchase and installation, and the working capital is 1.8 billion yuan.

The project plans to build 10 fully automatic battery cells and PACK production lines, with an investment of about 3 billion yuan in new equipment. After completion, 15GWh of energy storage and power lithium battery cells and PACK production capacity will be formed. Among them:

1. Phase 1 plan of lithium batteries

The first phase plans to build 4 fully automatic cell and PACK production lines. The investment in new equipment is about 1.2 billion yuan. After completion, a 6GWh cell and PACK production capacity will be formed.

2. Phase 2 plan of lithium batteries

The second phase plans to build 4 fully automatic cell and PACK production lines. The investment in new equipment is about 1.2 billion yuan. After completion, a 6GWh lithium battery cell and PACK production capacity will be formed.

3. Phase 3 plan of lithium batteries

The third phase plans to build 2 fully automatic cell and PACK production lines. The investment in new equipment is about 600 million yuan. After completion, a 3GWh cell and PACK production capacity will be formed. It is expected to be fully completed and put into production in 2025.

At the same time, a total of about 320,000 square meters of buildings and structures will be newly built, including factory warehouses, test centers, office and living rooms, with an additional investment of about 370 million yuan.

Tianneng battery Co., LTD. said that this investment will accelerate the implementation of the company's long-term development strategic plan, accelerate the company's production capacity layout, enrich the company's product structure, seize the development opportunities of the energy storage lithium battery industry, effectively meet the needs of customers on high-end power battery, and continue to optimize the company's industrial structure to further enhance the company's market competitiveness.

After the project is put into production, the production capacity of the company's related products will be expanded, which will help improve the company's sustainable profitability. In addition, the company has built a stable market system and good brand influence, which is conducive to the market promotion and sales of energy storage lithium battery products involved in this investment project, and continues to enhance the company's business scale and core competitiveness.