According to the agreement, Jinkang New Energy will purchase power battery products from Ningde Times from 2022 to 2026. Based on its own decision, the buyer needs to make a request to the seller at least 6 months in advance. The agreement is agreed.
Image source: Ceres official WeChat
On September 10, Xiaokang Co., Ltd. (601127) issued an announcement that Chongqing Jinkang New Energy Automobile Co., Ltd. (hereinafter referred to as “Jinkang New Energy”) and Ningde Times New Energy Technology Co., Ltd. (hereinafter referred to as “Ningde Times”) Signed the “Five-Year Supply-Demand Linkage and Capacity Guarantee Framework Agreement” on 9th.
According to the agreement, Jinkang New Energy will purchase power battery products from Ningde Times from 2022 to 2026. Based on its own decision, the buyer needs to make a request to the seller at least 6 months in advance. The agreement is agreed. If the ancillary agreement is not signed that year, the two parties will implement it in accordance with the annual scale of 10GWh in the following year. At the same time, in order to protect the buyer’s procurement needs from 2022 to 2026, the buyer needs to pay a certain amount of capacity deposit to the seller in accordance with the agreement to support both parties to deploy production capacity in advance and protect the common interests of both parties.
Xiaokang shares stated that the signing of the agreement is in line with the company’s business needs, is conducive to the establishment of a long-term strategic cooperative relationship between the two parties, guarantees the company’s long-term stable supply of power batteries, achieves industrial interaction and mutual benefit and win-win results, and is positive for the company’s implementation of the boutique strategy to build high-end smart electric vehicles Significance, in line with the company’s strategic development plan.
According to the August production and sales bulletin recently disclosed by Xiaokang, the company sold 3,565 new energy vehicles in August, a year-on-year increase of 145.69%. From January to August, it sold 21,736 new energy vehicles, a year-on-year increase of 116.47%. According to data released by the Travel Association, from April to July 2021, the first new energy vehicle product jointly created by Jinkang New Energy and Huawei, the cumulative sales volume of Cyrus Huawei Smart Selection SF5 was 2087.
It is worth noting that on June 29, Xiaokang shares announced that the company plans to use the raised funds of 1.622 billion yuan for the development of SERES (Cyrus) intelligent networked new energy series models and product technology upgrade projects. The development of SERES intelligent networked new energy series models includes: (1) the development of two plug-in extended-range and pure electric SC series sedans and SUV models positioned in the mass market; (2) the four models positioned in the technological, young, and fashionable market. Development of plug-in extended range and pure electric SF series cars and SUV models.
According to the plan, in the next 3 to 5 years, Xiaokang plans to further develop six SERES brand intelligent networked new energy models on the basis of the Cyrus SF5 model, including two plug-in extended-range and pure electric SC series sedans and SUV models, four plug-in extended range and pure electric SF series cars and SUV models.Return to Sohu to see more
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