Tianpeng Power's Malaysia factory is expected to start production in 2025

The first phase of Tianpeng Power's factory in Malaysia has been capped and is expected to be put into production in the second quarter of 2025. After completion, the project will have the ability to produce 18/21/46/50 cylindrical lithium batteries of various types, with an annual production capacity of more than 400 million. As the parent company of Tianpeng Power, Weilan Lithium Core has set business goals for 2024, planning to increase the shipment share of tools and other rate batteries to 80%, while maintaining the shipment share of capacity-type two-wheeled vehicle batteries at around 10%, and the shipment share of batteries for other application scenarios at 10%. According to the shipment data in the first quarter, the shipment share of batteries for electric two-wheeled vehicles (including electric bicycles and electric motorcycles) reached 16%, exceeding expectations.