Xinwanda joins hands with Dongfeng Group and Dongfeng Hongtai to establish a joint venture

On June 17, Sunwoda announced that its subsidiary, Sunwoda Electric Vehicle Battery Co., Ltd., will jointly invest with Dongfeng Motor Group Co., Ltd. and Dongfeng Hongtai Holding Group Co., Ltd. to establish a joint venture focusing on the research and development of power batteries and energy storage batteries. The investment ratio of the joint venture is 51% for Sunwoda Automotive Battery, 35% for Dongfeng Group, and 14% for Dongfeng Hongtai. This cooperation will make full use of the advantages of all parties to provide high-quality power batteries and energy storage battery products for Dongfeng Group and its affiliates, and is expected to further expand Sunwoda's business market in China.