UPDATED. 2024-03-28 05:14 (목)
Edison Motors considering buying Chinese battery firm
Edison Motors considering buying Chinese battery firm
  • Yang Tae Hoon
  • 승인 2021.11.05 08:03
  • 댓글 0
이 기사를 공유합니다

To secure battery supply line for EV conversion 
Image: CBInsights
Image: CBInsights

Edison Motors was considering buying Chinese battery maker eTrust Power, also known as Lixin Jinagu Energy Technology, TheElec has learned.

The company wants to secure a battery supply line as it is planning to mass-produce electric vehicles after it acquires SsangYong Motor, people familiar with the matter said.

Edison Motors was in talks with eTrust Power for the acquisition.

For the South Korean electric bus maker, if it has its own battery cell factory, it could give it more negotiating power when dealing with existing battery companies, one of the people said.

However, Edison Motors needs at least 50 billion won for the acquisition and is unable to acquire 100% of the shares of eTrust Power, so it is still reviewing the plan, they said.

Edison Motors could give up the acquisition plan and decide to build its own battery cell factory, the person said.

It was considering a factory with over 1GWh in annual production capacity and some regional governments in South Korea has offered support for the plan, they said.

A company spokesperson confirmed it was considering both options.

eTrust Power was formed in 2016 by China’s CITIC. It supplies its batteries to over 20 automobile companies including Edison Motors and BYD. It can manufacture LFP and NCM batteries.

However, the company going through bankruptcy proceedings as the Chinese government is reducing subsidies and the competition in the battery sector is intensifying. As of May, its asset was 1.689 billion yuan and it had a debt of 2.168 billion yuan.  

Edison Motors had said it plans to launch 30 electric vehicle models by 2030.
 


댓글삭제
삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
댓글쓰기
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • 515, Nonhyeon-ro, Gangnam-gu, Seoul, Republic of Korea 4F, Ahsung Bldg.
  • 대표전화 : 82-2-2658-4707
  • 팩스 : 82-2-2659-4707
  • 청소년보호책임자 : Stan LEE
  • 법인명 : The Elec Inc.
  • 제호 : THE ELEC, Korea Electronics Industry Media
  • 등록번호 : 서울, 아05435
  • 등록일 : 2018-10-15
  • 발행일 : 2018-10-15
  • 발행인 : JY HAN
  • 편집인 : JY HAN
  • THE ELEC, Korea Electronics Industry Media Prohibiting unauthorized duplication,publishing,modification and distribution the material on this Site for any purpose.
  • Copyright © 2024 THE ELEC, Korea Electronics Industry Media. All rights reserved. mail to powerusr@thelec.kr
ND소프트