Longi Environmental Protection plans to jointly build an energy storage battery factory with EVE Energy.

Longjing Environmental Protection (600388) announced late on April 7 that the company plans to set up a joint venture company with EVE Energy (300014) (300014) in Shanghang County, Longyan City, Fujian Province. The two parties will jointly invest to build a 60GWh large-capacity energy storage battery factory, focusing on the manufacturing of large-capacity, long-cycle energy storage cells.

It is reported that the project’s total investment is expected to be 6 billion yuan. The joint venture company, as the project implementation entity, will have registered capital of 900 million yuan. EVE Energy will hold 80% of the shares and Longjing Environmental Protection (600388) will hold 20%. In the later stage, the increase in the registered capital contribution amount will be decided through consultation based on the development of the joint venture company. The two parties will increase their paid-in contributions in equal proportions according to their equity holdings, and Longjing Environmental Protection’s cumulative contribution will not exceed 240 million yuan.

With the global energy transition process accelerating, energy storage—serving as a core supporting link in a new power system—has seen industry development shift from policy-driven to value-driven. The market demand and industry scale are entering a period of rapid growth.

Longjing Environmental Protection stated that the new energy industry is the direction of the company’s core strategic layout. The company has a certain production capacity scale in the energy storage battery field, which can provide strong support for the development of other new energy businesses under the company. EVE Energy is one of the core leading companies in the lithium battery industry. According to data from EVTank, its energy storage battery shipment volume has consistently ranked among the top two globally (reaching 71.05GWh in 2025). In this joint venture, the joint venture company will serve as EVE Energy’s core strategic layout vehicle along the southeastern coastal region. It will adopt the latest industry technologies and processes, with strong product iteration capability. At the same time, it will reserve room for upgrades for technology routes such as ultra-large capacity, solid-state, and semi-solid-state, enabling longer lifecycle development.

This cooperation will rely on EVE Energy’s technology barriers and global channel resources, and combine them with Longjing Environmental Protection’s advantages in industry resources. The two sides will work together to seize opportunities for energy storage industry development, achieving a win-win outcome across technology, market, and benefits. The goal is to build a benchmark project in the field of energy storage cell manufacturing.

It is worth noting that Longjing Environmental Protection and EVE Energy have, since 2024, established a deep cooperation framework in areas such as energy storage cell technology, production processes, and supply chain. On the technology front, EVE Energy will fully export core cell technologies such as 314Ah and other models, along with production processes and quality standards. On the supply chain front, relying on its own supply chain advantages, EVE Energy will provide key raw material procurement support to Longjing Environmental Protection. Longjing Environmental Protection will be responsible for large-scale production of energy storage cells, forming a division-of-work and collaboration model of “technology output + production manufacturing + market expansion.”

It is understood that Longjing Environmental Protection will open application scenarios to EVE Energy, and jointly develop across multiple fields such as new energy mining dump trucks and mine microgrids. EVE Energy will leverage its core capabilities in battery technology iteration and large-scale delivery, combining with Longjing Environmental Protection’s mine scenario product and manufacturing advantages to form synergy. This will provide green mine scenario solution offerings and empower the electrification and transformation of mines.

Longjing Environmental Protection stated that this external investment deeply aligns with the company’s core strategic layout in the new energy industry. It will help the company officially enter the research and development, production, and manufacturing of large-capacity energy storage cells, and will further extend and improve the company’s new energy industrial chain. It will cultivate new profit growth drivers and enhance the depth of the company’s industrial layout in the new energy sector.

(Responsible Editor: Zhang Yan)

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