EVE Energy (SHE:300014), through unit Wuhan EVE Energy Storage, signed a memorandum of understanding with US battery maker Powin for the development of battery packs, the company said in its filing on the Shenzhen Stock Exchange.
Under the three-year MOU, the Chinese battery manufacturer will cooperate with Powin for the manufacturing of lithium iron phosphate battery packs and higher-density batteries. Power will make payments to EVE for the battery cells and packs, the Thursday filing noted.
EVE's shares slipped more than 1% in recent trade.
Price (RMB): ¥41.49, Change: ¥-0.58, Percent Change: -1.38%
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