Shanghai (ZXZC)- Huizhou EVE Energy (“EVE Energy”) on Feb. 16 signed an agreement with the municipal government of Yuxi city, Yunnan province, Yunnan Energy New Materials Group (“Energy Technology”), Huayou Holding Group, and Yunnan Yuntianhua Co., Ltd. (“Yuntianhua”) to cooperate on a new energy vehicle (NEV) battery project, the Chinese power battery maker announced via its WeChat account.

EVE Energy signing agreement for Yuxi NEV battery project; photo credit: EVE Energy

Under the agreement, all parties will co-build two joint ventures in Yuxi city, through which they will jointly exploit and process mineral resources after obtaining the rights of prospecting and mining. Through the joint ventures, they will also co-work on the R&D, production and sale of NEV batteries and relevant upstream and downstream materials, so as to boost the formation of a NEV battery-related industrial chain cluster for the city.

Besides, the four companies plan to jointly build the supporting facilities for the production of lithium battery separators, iron phosphate, and lithium iron phosphate, etc.

EVE Energy said the newly-formed cooperation will help the company further expand its production capacity of power batteries and energy storage batteries, improve its business structure, promote its development in the lithium ion power battery market, and enhance its influence in the NEV industry.