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On April 12, Funeng Technology (688567) announced that the company had recently received the notice of fixed location of LE model project from GAC Mitsubishi Motors Automobile Co., Ltd. (hereinafter referred to as "GAC Mitsubishi"). Funeng Technology will develop and supply power lithium batteries for the LE model for GAC Mitsubishi, with a supply cycle of 5 years. According to the demand plan, Funeng Technology will start mass production and supply by the end of this year. The designated location of this model marks the entry of Funeng Technology into the Japanese supply chain, which is conducive to Funeng Technology's business layout and sustainable development.

It is understood that GAC Mitsubishi is a Sino foreign joint venture jointly operated by GAC Group, Mitsubishi Automatic Vehicle Industry Co., Ltd. and Mitsubishi Corporation Co., Ltd., which has been deeply rooted in the Chinese market for many years. Relying on professional technical advantages and SUV expertise, it has successively put into production a number of Mitsubishi Motors global strategic models, such as Yige, Outlander, Jinxuan, Pajero, etc.

As the first new energy vehicle jointly developed by GAC Group and Mitsubishi Motors, LE has shouldered the important mission of transforming its fuel vehicles into electrification strategies, and is also an important measure for GAC Mitsubishi to respond to the national double score assessment. Funeng Technology and GAC Mitsubishi have high hopes for this cooperation, practice the concept of sustainable development, and accelerate the arrival of the new energy era.

At present, Funeng Technology has become one of the leading companies in the ternary soft pack power lithium-ion battery industry, and has consistently ranked first in the Chinese market for soft pack power lithium-ion battery shipments from 2017 to 2019. In terms of products, Funeng Technology has started producing cells with a production density of 285Wh/kg, and its product performance is at the leading level in the global industry.

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