BEIJING, March 8 (Xinhua) -- Guangdong-based Chinese battery producer EVE Energy Co., Ltd. (300014.SZ) recently announced that its subsidiary has been selected as the battery core supplier of Hyundai Kia Automotive Group for the next six years, with demand volume expected at 13.48GWh.
To serve such a large demand, the subsidiary plans to establish a new base in the Zhongkai High-tech Zone in Huizhou, Guangdong, according to the announcement. With planned fixed-asset investment of 3 billion yuan, the base will be used to produce soft-pack battery cores and modules for high-end new-energy passenger vehicles, and the production capacity will be no less than 5.8GWh.
Hyundai Kia Automotive Group is one of the world's leading automakers headquartered in the Republic of Korea (ROK). (Edited by Li Wenxin, firstname.lastname@example.org)