Do-Fluoride (Jiaozuo) New Energy Technology Co., Ltd., a subsidiary of Shenzhen-listed Do-Fluoride Chemicals Co., Ltd., inked deals with Shandong Xindayang Electric Vehicle Co., Ltd. and Nanjing King Long Coach Manufacturing Co., Ltd. for supplying them with lithium batteries, announced Do-Fluoride on September 22.
Do-Fluoride will provide 40,000 units of 144V 120 Ah power battery packs worth ¥1.4 billion-¥1.6 billion ($222 million-$254 million) for Xindayang and 300,000 kWh batteries worth ¥600 million-¥800 million, which can be used in more than 3,000 vehicles, for Nanjing King Long in 2016.
In addition to Xindayang and Nanjing King Long, many other companies have shown their interests in buying Do-Fluoride batteries and the company’s orders are expected to be doubled, according to Ji Bing, president of the Do-Fluoride subsidiary.
Do-Fluoride started supplying batteries to Zhidou EVs made by Xindayang in 2011. In the first eight months of the year, 7,622 Zhidou EVs were sold in China, according to d1ev.com.
Do-Fluoride’s output capacity of batteries will expand from current 100,000,000 Ah to 600,000,000 Ah in mid-2016.
In the first half of the year, Do-Fluoride sold 70,000,000 Ah batteries and sales volume reached ¥130 million.