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

Securities Times reporter Kang Yin

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

It is understood that the project’s total investment is expected to be RMB 6 billion. The joint venture company, as the project implementation entity, will have registered capital of RMB 900 million; EVE Energy will hold 80%, and Longjing Environmental Protection will hold 20%. The increase in registered capital at a later stage will be decided through consultation based on the development of the joint venture company. The two parties will increase and fully pay capital contributions in proportion to their equity holdings. Longjing Environmental Protection’s cumulative capital contribution will not exceed RMB 240 million.

With the global energy transition accelerating, energy storage—as a core supporting link in a new power system—the industry’s development has shifted from being driven by policy to being driven by value step by step, and the market demand and industrial scale are entering a period of rapid growth.

Longjing Environmental Protection said that the new energy industry is a core strategic layout direction for the company. 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 players in the lithium battery industry. According to EVTank data, its energy storage battery shipments have remained in the global top two (reaching 71.05GWh in 2025). In this joint venture, the company will serve as EVE Energy’s core strategic layout platform in the southeast coastal region. It will adopt the latest industry technology and manufacturing processes, with strong product iteration capabilities. At the same time, it will reserve room for upgrading technology routes such as ultra-large capacity, solid-state, and semi-solid-state, enabling longer lifecycle development.

The cooperation will leverage EVE Energy’s technological barriers and global channel resources, and combine Longjing Environmental Protection’s strengths in industrial resources. The two parties will work together to seize opportunities for the development of the energy storage industry, achieving a win-win outcome among technology, the market, and benefits, and are committed to building a benchmark project in the energy storage cell sector.

It is worth noting that since 2024, Longjing Environmental Protection and EVE Energy have already built a deep cooperation system in areas such as energy storage cell technology, production processes, and the supply chain. On the technical front, EVE Energy will fully provide core cell technologies for models such as 314Ah, along with production processes and quality standards. On the supply chain front, EVE Energy, relying on its own supply chain advantages, will provide Longjing Environmental Protection with support for procurement of key raw materials; Longjing Environmental Protection will be responsible for large-scale production of energy storage cells, forming a division-of-labor and cooperation model of “technology output + production and 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 trucks and mine microgrids. EVE Energy will leverage its core capabilities in battery technology iteration and scaled delivery, and work together with Longjing Environmental Protection’s mine-scenario product offerings and manufacturing advantages to provide green mine-scenario solution plans, empowering the electrification transition of mines.

Longjing Environmental Protection said that this external investment is highly aligned with the company’s core strategic layout in the new energy industry. It will help the company formally enter the R&D, production, and manufacturing segments of large-capacity energy storage cells, further extend and improve the company’s new energy industrial chain, cultivate new profit growth drivers, and enhance the depth of the company’s industrial layout in the new energy sector.