On February 15, Jiawei Xineng said in the announcement that the company disclosed on April 28, 2022, the “Announcement on the suspension of production of the holding subsidiary”. According to the company’s development plan, the company will concentrate its resources on the photovoltaic industry in the future, and will no longer regard the production of lithium batteries as the future development direction. The company has stopped production of related lithium battery manufacturing, and has no relevant conditions for the research and development and production of lithium batteries. The company will also carry out the lithium batteries needed for the development of photovoltaic power stations and industrial and commercial energy storage projects through centralized external mining.
Veco noted that Jiawei Xineng is not the first company to divest its original main business into PV, but one of the few listed companies to abandon its lithium business into PV.
Post time: Feb-16-2023