Published 20 Apr.2022 08:39(KST)
[Asia Economy Reporter Park Hyungsoo] EN Plus announced on the 20th that it will invest an additional approximately 5.8 billion KRW in Jiangsu Fengzhen New Energy Power Technology, a Chinese electric commercial vehicle manufacturer. EN Plus has invested a total of 17.4 billion KRW in Jiangsu FC and secured a 25.62% stake.
In the paid-in capital increase of Jiangsu FC, China’s Jiangfeng Lithium Battery, the world's largest lithium producer, also invested 5.6 billion KRW to secure a 5% stake. EN Plus will actively promote the electric commercial vehicle business together with Jiangsu FC.
EN Plus will supply electric commercial vehicles produced by Jiangsu FC to the Philippine market. They plan to complete an electric jeepney sample vehicle soon and sell it locally in the Philippines.
An EN Plus official said, "We will quickly enter the electric vehicle market through the electric commercial vehicles and jeepney sample vehicles produced by Jiangsu FC," adding, "We plan to directly manufacture electric vehicles in collaboration with Jiangsu FC."
He continued, "The sales and pack and cell business of Jiangfeng Lithium Battery’s LFP (Lithium Iron Phosphate) batteries are also expected to gain momentum," adding, "EN Plus has placed orders for two items for supercapacitor replacement development and two sample items for ESS sales to Jiangfeng Lithium Battery."
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