Geely's acquisition of Lixin Energy puts it on the fast track of development

On February 17, the 2023 Lixin Energy Supplier Conference with the theme of "Mutual Benefit, Mutual Trust, and Win-Win Cooperation" was successfully held in Zhenjiang. As the organizer of this conference, Lixin Energy gathered together with the procurement managers of Geely's new energy business segments such as Zeekr Intelligent Technology, Fujiang New Energy, Yaoneng New Energy, and Yaoning New Energy, as well as nearly 300 supplier representatives from upstream and downstream of the industrial chain to jointly build a bridge for joint procurement development, jointly build a sustainable development supply chain system of mutual benefit and trust, and jointly seek the sustainable and high-quality development of the new energy battery industry. Liu Yudong, President of Geely Technology Group, and Vice Presidents Yu Wei and Huang Jinhong attended the conference.

At the conference, relevant persons in charge of Lixin Energy announced for the first time its production capacity planning layout and supply chain planning and management needs, and revealed that it has successively started the construction of the Ningguo 12GWh project and the planning and construction of the Zhenjiang Phase III 6GWh project. In the future, it will gradually promote Lixin's third base, fourth base, and fifth base, and have a lithium battery production capacity of 27GWh by 2027.

In addition, in order to improve the battery system research and development, new technology development and innovation capabilities, Lixin will also plan to build a comprehensive battery innovation R&D center in the next three years, with a full set of battery cell-level performance testing capabilities and safety testing capabilities, and can conduct comprehensive performance evaluation of products. In the future, the research institute will have the ability to develop more than 10 battery cells and more than 20 PACKs, forming a comprehensive "production, learning, engineering, research, and application" hierarchical global R&D system.

Founded in 2016, Lixin Energy is a lithium-ion battery R&D, production and manufacturing company. It currently has more than 300 power battery technology patents, including 137 invention patents. It is a key project of Jiangsu Province's strategic emerging industries and a national green factory. It is understood that the company is currently focusing on the lithium iron phosphate system and has some ternary systems. Its products are widely used in new energy vehicles and energy storage systems. Its commercial vehicle battery products and energy storage business have strong market competitiveness, and the number of energy storage projects connected to the grid ranks among the top in the country. At present, Lixin Energy has experience in material verification, product development, system design, etc., and has a complete electrochemical system platform, including technical reserves and test data for lithium iron phosphate, ternary 523 high voltage, ternary 613 high voltage, ternary 811 and other chemical systems.

In July 2022, Geely Technology Group officially took over Lixin Energy and became the largest shareholder of Lixin Energy. The collaboration between Lixin and Geely not only introduced powerful market, capital, technology, management, brand and other resources for Lixin's comprehensive industrial upgrading, but also injected strong momentum into Geely Technology's new energy power battery industry, making the industrial layout more complete.

Zhang Yu, CEO of Battery Network China

Zhang Yu, CEO of Battery Network China, said at the meeting that as the world's largest new energy vehicle market, China has maintained a high-speed growth trend in recent years. From both the technical and product perspectives, the incremental space for China's new energy vehicle industry is relatively certain and the industry's development prospects are huge.