Zhongke Shinzoom Technology: Cooperation with BYD subsidiary to invest in the construction of anode material project
On September 2, Zhongke Electric announced that its wholly-owned subsidiary, Zhongke Shinzoom Technology and Chongqing FinDreams Battery Co., Ltd. (hereinafter referred to as “Chongqing FinDreams”) had signed a Joint Venture Agreement. The two sides planned to determine the strategic partnership and establish a joint venture with a registered capital of the joint venture of 1 billion yuan.
According to the agreement, the joint venture will focus on the manufacture of anode materials. After the project is completed and put into operation, all anode materials produced by the joint venture will be preferentially supplied to Chongqing FinDreams and its related parties.
The signing of a joint venture agreement between Zhongke Shinzoom Technology and Chongqing FinDreams will help the company deepen its cooperation with downstream manufacturers in the field of lithium batteries by integrating the advantageous resources of both sides to achieve win-win cooperation. At the same time, it will also provide financial support for the company’s lithium battery anode business expansion to accelerate capacity expansion, ensuring the company’s capacity utilization to help the company adapt to the market competition and rapid development of the new energy lithium-ion battery industry, which is in line with the company’s development strategy and long-term plan.