Recently, the State Administration of Market Supervision and Administration disclosed that Ningde Times completed the anti-monopoly review of the acquisition of shares of Chongqing Yaoning New Energy Technology Co., Ltd. and was unconditionally approved.
Yaoning New Energy, formerly known as Chihang New Energy (Chongqing) Co., Ltd., was jointly established by Geely Technology Group and Funeng Technology. After Funeng Technology withdrew, Geely wholly owned and renamed.
Yaoning New Energy Chongqing Base is located in Fuling High-tech Zone, with a total investment of about 8.5 billion yuan, an area of about 480 mu, a planned capacity of 30 GWh, and a core business covering power battery cells, modules, production and sales.
According to local media reports, the P1 project plant of Fuling Power Battery Production Base of Yaoning New Energy was completed in June this year, and was originally planned to be put into trial production in December and put into operation in the first quarter of 2027.
It is noteworthy that Chongqing is an important city of China's new energy automobile industry, with Chang'an, Sailis, Geely and other automobile factories gathering, and the demand for power batteries is strong.
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