- Fosun expands its layout in the new energy industry with a strategical investment in battery industry leader Tianjin EV Energies Co., Ltd.
- Release Time: Sep 15, 2018
On September 14, Fosun and Tianjin EV Energies Co., Ltd. jointly hosted the “Green China: New Energy Automobile Industry Forum and Strategic Conference on Fosun’s Investment in Tianjin EV Energies Co., Ltd.” at the Fosun Foundation (Shanghai). At the meeting, it was officially announced that Fosun would invest in Tianjin EV Energies Co., Ltd. (JEVE), a leading company in new energy power and batteries in China, and would fully empower JEVE to make it the leader of the new energy power battery industry in China and even the whole world.
Founded in 2009 and headquartered in Tianjin, JEVE is the first company in China to develop and mass produce ternary system lithium power batteries, which it sells to well-known domestic new energy passenger vehicle companies such as Changan Auto, Chery Automobile, and Dongfeng Motors. In recent years, Fosun has accelerated the implementation of its technology-driven strategy and proposed benchmarking with global high-tech giants. In February this year, Fosun established a scientific innovation center and included new energy and other fields as key investment directions.
At the press conference, Fosun stated it would empower JEVE from three aspects, upstream and downstream industrial chain layout, global market expansion, and the introduction of international talents, to help JEVE become a world-leading new energy power company.
Wang Chiwei, Co-founder and General Manager of JEVE, announced the company’s development strategy that would be carried out after receiving Fosun’s investment:
It would focus on the passenger car market with the goal of becoming one of the top three power battery companies in China within the next five years and one of the world’s top three international first-class power battery companies in the next ten years. To this end, JEVE would invest RMB 8 million to construct R&D centers and engineering centers, as well as expand and build new production bases in Yancheng, Jiangsu and other places to rapidly increase the scale of production capacity.
Thanks to R&D investment and technological breakthroughs, JEVE will soon be able to mass produce batteries that have an energy density of 270Wh/kg. To this end, JEVE hired Professor Chen Jun, the dean of the Faculty of Chemistry of Nankai University and an academician of the Chinese Academy of Sciences, as the honorary dean of the “JEVE Power Research Institute”. As a well-known inorganic chemist and a local Chinese authority on new energy technology, Professor Chen Jun will help JEVE enhance its R&D capabilities in the field of lithium-ion batteries to achieve technological breakthroughs as soon as possible and maximize the advantages of soft-pack laminated batteries.
Guo Chuntai, Chairman of JEVE, said that the development of the new energy vehicle industry was a national strategy and JEVE has always been focusing on the field of new energy vehicle power batteries. After more than nine years of development, JEVE has consolidated the technical and quality-system advantages it has in soft-pack laminated batteries in the field of passenger cars. Fosun will strongly support JEVE’s strategic goals and expansion plans, helping the company expand rapidly in domestic and foreign markets to enhance its competitiveness across the whole industry.
Guo Guangchang, Chairman of Fosun International said that while Fosun is indeed a company with investment genes, the company was not simply satisfied with being an investor. Since Fosun has chosen this industry and JEVE, Fosun and its team will be very patient in deepening the industry. Regardless of whether the industry is doing well or not, I believe that those who persist, innovate, have team spirit, have global vision, and have sufficient funds can create a strong company and a powerful enterprise. We will work hard to achieve this goal!
More than one hundred guests including local government leaders, experts in the power battery industry, representatives of automobile manufacturers, and representatives of material manufacturers attended the on-site event. At the “Green China: New Energy Automobile Industry Forum” held on the same day, representatives of new energy automobile industry manufacturers and industry associations shared their insights on the next ten years of development of new energy vehicles in China and discussed strategies to develop the new energy industry and serv a green China together.