Ningde Times Power Battery Business Is Entering a Fast Track

The new factory of Valmet automotive, a joint-stock company of Ningde times, in Finland, won the power battery system order from the third customer, indicating that its power battery business is entering a fast track.

Foreign media reported that the new factory of Finnish auto parts supplier Valmet Automotive (vimet Automotive Engineering Co., Ltd.) in uusikaupunki, Finland, obtained the power battery system order of the third customer, indicating that its power battery business is entering a fast track.

In November 2019, Valmet's battery module production line at Salo factory in Finland was officially put into operation; In December 2020, Valmet announced the expansion of the uusikaupunki plant into a battery plant, which will be put into operation in the second half of the year. In March this year, Valmet announced plans to build a new battery pack plant in kirchhardt (Baden-W ü rttemberg), which is close to Audi.

In addition to the construction of the new pack plant, Valmet also invested 7 million euros (about 54.58 million yuan) to build a new battery test center (BTC) in bad friedrichhall, an automobile manufacturing area in Baden Wurttemberg, Germany.

The center has been put into use in February 2020 and can provide environmental compatibility, function and safety tests for cells, battery modules and complete battery systems, so as to meet the needs of power battery safety tests of European main engine manufacturers including Volkswagen, Daimler and logo during electrification transformation.

Founded in 1968, Valmet is a supplier integrating automotive engineering development services and OEM services for vehicle manufacturing. In October 2020, the company announced its withdrawal from classic engineering services to facilitate its transformation into an electric vehicle battery system supplier.

It is worth noting that in February 2017, Ningde times invested 30 million euros (about 235 million yuan) in Valmet to obtain 22% equity, becoming the third largest shareholder after Pontos (39%) and Tess (39%).

After participating in Valmet, Ningde times is expected to use Valmet's resources to obtain in-depth cooperation channels for European high-end automobile customers, which will help it further develop the European power market.

Valmet's ability to expand its power battery pack and test and develop battery system will also help to further enhance its competitive advantage in the European power battery market and provide a positive role for Ningde era to build battery factories and explore the market in Europe.