GWM SVOLT won the PSA battery procurement contract, procurement volume exceeds 7GWh

GWM SVOLT won the PSA battery procurement contract, procurement volume exceeds 7GWh

SVOLT, a power battery company under Great Wall Motors, won another large order. Recently, people familiar with the matter revealed that SVOLT has obtained a formal procurement contract from the French PSA Group, which will support PSA’s electric vehicles in China and the world. The procurement volume during the entire life cycle of the project is expected to exceed 7GWh.

The PSA procurement contract is not surprising. In February of this year, SVOLT revealed that it has obtained a designated procurement point for a large European automobile group, and the estimated procurement volume is also 7GWh. At that time, many speculations arose in the industry, including PSA, BMW, Audi, Daimler and other foreign customers all revealed their purchasing intentions.

In 2018, SVOLT operated independently from the Power Battery Division of Great Wall Motors. As the “dark horse” in the power battery industry, SVOLT is developing rapidly. As an independent power battery company, SVOLT is open to China and global vehicle companies. It is reported that the planned production capacity of SVOLT’s Changzhou plant is 18GWh, and the first phase of the 4GWh capacity project has been put into operation in October 2019.

In order to satisfy overseas customers, SVOLT will spend 2 billion euros to build a 24GWh large-scale power battery factory, supporting cathode material factory and battery technology center in Europe. It is understood that the project will be implemented in two phases. The first phase of the project will be launched in 2020 and completed and put into operation in 2022; the second phase of the project will be put into operation in 2025.

In recent years, China’s lithium battery industry chain has accounted for more than 70% of the global market share. A large number of supply chain supporting companies with international capabilities have been formed around Chinese leading battery companies. Chinese power battery companies will also play an important role in the international market.