The rapid implementation of Lishen battery production capacity mainly serves its diversified market strategy, that is, to go hand in hand in the consumer and power and energy storage markets, and to develop battery products and solutions for different markets.

Lishen Battery's capacity expansion has entered a "fast-forward" mode.

On June 26, the Lishen Binhai New Energy Industrial Base Project was launched in Binhai High-tech Zone. Construction of a 24GWh power battery production base in the early stage, with a total investment of over 10 billion yuan. It will be implemented in three phases, with 8GWh of construction in each phase, and all construction will be completed within four years after the start of construction. The first phase of the project is expected to be completed and put into operation in 2023.

Up to now, Lishen has planned to establish lithium battery production bases in Tianjin, Qingdao, Suzhou, Wuhan, Wuxi, Chuzhou and other places. It is planned that the total production capacity of lithium batteries will reach 125GWh by 2025.

In February this year, the Lishen power and energy storage project with an annual output of 36GWh started construction in Chuzhou. The project is constructed in three phases, with a total investment of about 15.2 billion yuan. The first phase is planned to build 16GWh, and strive to be completed within this year, and it will be put into operation in the first half of 2023.

In November 2021, the Lishen Battery New Energy Industrial Base and R&D Center project will be settled in Wuxi, with a total investment of 11.2 billion yuan and a planned power battery annual production capacity of 24GWh. The construction is divided into two phases. The first phase of the project is planned to start in 2022 and be completed and put into operation in 2023.

The rapid implementation of Lishen battery production capacity mainly serves its diversified market strategy, that is, to go hand in hand in the consumer and power and energy storage markets, and to develop battery products and solutions for different markets.

In the consumer market, Lishen Battery has developed a series of high-power cylindrical batteries for power tools and smart homes, and a number of products have been mass-produced; in the field of electric two-wheelers, Lishen Battery has been used for Meituan, Hello And other enterprises in bulk supply.

In the power market, Lishen Battery has also developed and deployed different battery products for new energy passenger vehicles, logistics vehicles, heavy trucks and energy storage.

In the field of new energy passenger vehicles, Lishen actively expands production to meet the market demand of domestic passenger vehicle customers, and develops more competitive power battery products through material system optimization and system structure innovation; Accelerating the development of international markets, it has already obtained battery projects from international OEMs such as Daimler.

In the field of new energy logistics vehicles, Lishen has developed two standardized battery products, and has reached cooperation with several leading logistics vehicle companies. At present, the supply of products is in short supply.

In the field of heavy truck power exchange, Lishen has also developed standard battery products, which are now ready for commercialization and will make efforts in the heavy truck power exchange market.

In the field of energy storage, Lishen Battery is fully deployed in the 5G base station backup, grid side, home energy storage and other markets, develops special lithium iron phosphate battery products, and tilts towards energy storage batteries in future capacity planning.

From the perspective of rhythm, the production capacity of Lishen battery will be released intensively in 2023. This also means that Lishen Battery's battery production capacity and delivery capacity to new energy vehicles, electric two-wheelers, 3C digital, energy storage and other markets will be greatly improved, and market competitiveness is expected to be further enhanced.