Waterma receives 1.1 billion battery pack assembly purchase order

On January 9, Shaanxi Jianrui Woneng Co., Ltd. announced that its wholly-owned subsidiary Shenzhen Waterma Battery Co., Ltd. recently signed a “Procurement Contract” with Hubei Xinchufeng Automobile Co., Ltd. on product procurement. The purchased products are 8408 battery pack assemblies with a total amount of 1.098 billion Yuan.

The announcement shows that Xinchufeng Motor was established in March 2007 with a registered capital of 460 million Yuan. It is a manufacturer specializing in the production of special-purpose vehicles, new energy vehicles, chassis and complete vehicles. Currently, it mainly uses special vehicle chassis and new energy. The research and development, production and sales of chassis and complete vehicles are the mainstay.

Jianrui Woneng said that the signing of this contract will promote the sales of the company's power battery. The implementation of the procurement contract will be brought to the company within 10 days from the date of signing the contract (from December 31, 2018). The income of .98 billion Yuan is conducive to the development of the company's main business.

It is understood that Waterma was established in 2002, and is one of the first power lithium battery enterprises in China to successfully develop lithium iron phosphate new energy vehicle power battery, automobile starting power supply, energy storage system solution and take the lead in realizing large-scale production and batch application. In March 2016, Jianrui Woneng announced that it would purchase a 100% stake in Waterma with a huge investment of 5.2 billion Yuan and began to shift its main business to new energy vehicles and power batteries.

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