EVE issued a series of investment announcements and planned to sign a 20GWh power storage battery production base project with the People's Government of Jianyang City, Chengdu, with a total investment of about 10 billion yuan; It was announced on the same day that it was planned to adjust the project of 10GWh/a power storage battery that was planned to be built in Qujing, Yunnan Province, to the project of 23GWh/a cylindrical lithium iron phosphate power storage battery（Lifepo4 Battery）, with the total investment increased from 3 billion yuan to 5.5 billion yuan.

Since 2022, according to incomplete statistics, including the two proposed projects in this announcement, the company has established capacity planning in Jingmen, Hubei, Huizhou, Guangdong, Chengdu, Sichuan, Yuxi, Yunnan, Shenyang and Malaysia, with a total investment of more than 70 billion yuan and a total capacity planning of more than 400GWh.

The announcement shows that the fixed asset investment of the 20GWh power storage battery production base project to be built by EVE in Jianyang, Chengdu is not less than 6 billion yuan, and the intended land area is estimated to be about 600 mu, with a construction period of 2 years. The main products include but are not limited to consumer batteries, power batteries, energy storage batteries, PACK battery packs, etc., and the construction of supporting office, accommodation, canteen and other facilities, The company will entrust Sichuan Jianzhou Airport Industry and Finance Investment Development Group Co., Ltd. to carry out the relevant tasks of factory customization construction. The fixed asset investment of the 23GWh cylindrical lithium iron phosphate energy storage power battery project in Qujing, Yunnan Province is about 4.5 billion yuan, with a total planned land area of about 500 mu and a construction period of no more than 18 months.

Under the background of substantial expansion of production, the demand for capital of EVE has also increased significantly, and financing plans are frequent. In December 2022, EVE plans to issue convertible bonds to raise 7 billion yuan to invest in 23GWh cylindrical lithium iron phosphate energy storage power battery project and 21GWh large cylindrical passenger car power battery project; Earlier, in November 2022, the company had just completed a fixed increase of 9 billion yuan. The investment projects include the lithium-ion power battery project for passenger cars and the lithium-ion power battery project for HBF16GWh passenger cars.

The continuous release of capacity directly boosted performance. On January 11, EVE Battery released a performance forecast. It is estimated that the net profit in 2022 will be 3.196 billion - 3.632 billion yuan, up 10% - 25% year on year. After excluding the equity incentive expenses, the company's main business profit will increase 130% - 150% year on year; In terms of revenue, with the new factory and new production line entering the mass production stage, the company's shipment scale grew rapidly, and the operating revenue increased by 110% year-on-year.

In terms of product structure, EVE has continued to develop in the direction of large cylinders in recent years. At present, the company's 20GWh large cylindrical battery factory in Jingmen, Hubei Province is about to be completed, which will realize the mass production of the first generation of 46 series large cylindrical lithium batteries. In September last year, EVE won the order of 46 series large cylindrical lithium batteries from BMW Group, and will establish two cell factories in China and Europe with the latter, each with an annual capacity of 20GWh; In the same month, the company reached a strategic cooperation with Dayun Motor, and agreed to supply 46 series of large cylindrical batteries for the Yuanhang brand model of Dayun Motor. It is reported that the EVE46 series of large cylindrical batteries have been selected by many well-known customers at home and abroad or have signed framework cooperation agreements. The main customers are about to complete the overall product verification, and many other customers are about to complete the performance index verification. The whole process verification is expected to be completed from 2023 to 2024.