Issue 20, 2022 - Azure Lithium plans to invest in lithium battery projects overseas

Azure Lithium plans to invest in lithium battery projects overseas

Recently, Jiangsu Azure Lithium Core Co.
, Ltd.
(hereinafter referred to as "Azure Lithium Core") issued an announcement that it intends to invest in the construction of lithium battery projects in Malaysia
.
The project plans to invest a total of 280 million US dollars to build a new 10GWh cylindrical lithium battery manufacturing project
.
After the project is fully completed and put into production, it is expected to form an annual production capacity of 10GWh of 21/46/50 lithium batteries, which will greatly enhance the company's product supply guarantee capacity for overseas customers and lay the foundation
for the company's global industrial layout.

It is reported that in the Azure lithium cell battery business, direct overseas export sales have accounted for about 50% of the total sales, and overseas production capacity layout has become an urgent need
for the company's future development.
This is also a major background
for its plans to invest and build factories overseas.
Azure Lithium said that choosing to set up a wholly-owned subsidiary in Malaysia as the company's overseas lithium battery production base is conducive to enhancing the competitiveness of its global services and better meeting the needs
of the international market.