On July 15, Wanrun Xinneng announced that the "Wuhan R & D Technology Center and Industrialization Base Project" originally planned to be built in Qingshan, Wuhan, would be automatically terminated after its expiration and would not be renewed.
It is reported that the project was signed in July 2023, and Hubei Wanrun New Energy Technology Co., Ltd. and the Management Committee of Wuhan Chemical Industry Zone signed the Letter of Intent for Investment, with a planned investment of 5 billion yuan . The project of Wuhan R & D Technology Center and Industrialization Base will be built in Qingshan District of Wuhan City in two phases , focusing on the R & D and mass production of key materials such as lithium-ion batteries, sodium-ion batteries, solid-state batteries and hydrogen energy storage .
Wanrun Xinneng said in the announcement that the validity period of the Letter of Intent for Investment has expired for two years, and the project has not yet been carried out . There is no further development plan for the time being. After communication and confirmation by both parties, the project will be automatically terminated upon expiration and will not be renewed.
At the same time, the company said that the termination of the investment project was a prudent decision made by the company in the light of the market environment, the company's development strategy and the actual situation, taking full account of the dual needs of external market changes and internal resource optimization. It aims to reduce investment risks , improve the company's operational efficiency , and ensure the company's sustainable, stable and healthy development.
However, it has not been carried out within two years, and the company said that there is no further development plan for the future, and it will eventually enter the termination state.
It is noteworthy that, focusing on the outbreak of demand for lithium iron phosphate in the North American market, Wanrun Xinneng's new energy project in the United States is progressing smoothly, with a total planned annual output of 50,000 tons of lithium iron phosphate and a planned production capacity of 9,000 tons of lithium iron phosphate in the first phase.
By the end of last year, the purchase procedures for the land and plant of the project had been completed, the relevant land and plant had been delivered, and the construction design and equipment procurement preparations were under way.
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