China lighting industry, leading enterprises in Foshan Lighting Co., Ltd. (000541.SZ, hereinafter referred to as Foshan Lighting) for the first time involved in new energy industry, will set up joint venture in Qinghai, the production of electric vehicles required for lithium batteries.

Foshan Lighting today (11) announcement revealed that the joint venture company in Foshan Lighting, China and Europe technical consultation and planning Development Company Limited dell Inspiron 1521 battery dell Inspiron 1721 battery (hereinafter referred to China and Europe), Lithium Energy Holdings Co., Ltd. (hereinafter referred to as Li-ion Energy Holdings), the origin of Qinghai-commerce is limited liability company (hereinafter referred to as the origin of Qinghai) co-funded Economic Development Zone, Xining, in Qinghai Province was established.

September 10, the Quartet has already signed an agreement in Foshan. The new company called "According to Buddhism in Qinghai Lithium Energy Development Co., Ltd.", the registered capital of 76.923 million yuan, of which invested 29.23 million yuan Foshan Lighting, accounting for 38% of shares; China and Europe in order to patented technology investor, accounting for 33% of shares; lithium energy Holding invested 11.5334 million yuan, accounting for 15% of shares; Qinghai origin invested 10.775 million yuan, accounting for 14% of shares.

The joint venture company's main business is the use of Qinghai Salt Lake brine extract lithium carbonate. Foshan lighting that strive for the future from the lithium carbonate extraction, extended to the lithium battery materials and lithium battery production, and gradually form a new energy, a pure electric vehicle dell Inspiron 2600 battery, dell Inspiron 2650 battery industrial chain. The company said, from the traditional manufacturing-based production enterprises, extended to the new energy development industry, to rationally adjust the layout and the company's capital structure.

Under the agreement, the above-mentioned four co-operation period of 50 years, the joint venture pre-operating cash 51.5384 million yuan, pre-start-up costs and relocation costs be 18.2 million yuan, trial production for three months. Joint venture's board of directors of five members, two appointed by the Foshan Lighting, China and Europe, lithium Energy Holdings, Qinghai and the origin of all appointed for a term of three years, Chairman and sent by the Foshan Lighting, the general manager appointed by the chairman.

Lithium carbonate is the state support the development of new energy resources products. Foshan Lighting believes that strong demand for lithium resources at home and abroad in the future the annual demand is expected to continue to achieve double-digit growth in western China have large stockpiles of lithium resources, with a bright future. Enter a new field of energy, Foshan lighting to further enhance the company's profitability and overall competitiveness.

This year, the Chinese government introduced policies to support the new energy automotive industry. Li-ion battery for a key component of new energy vehicles, and as an investment hot spot. Recently, BYD Huizhou City in Guangdong Province's new energy battery production base has just been completed.

Foshan Lighting for domestic dell Inspiron B130 battery,dell Inspiron E1405 battery energy-saving lamps lighting the major manufacturers, over the years insist on dividends, there are "cash cows," said.