On December 9th, 2022，EVE issued an announcement on the issuance of convertible corporate bonds to unspecified objects. 3 billion yuan will be used for the 21GWh large cylindrical passenger car power battery project.

The 23GWh cylindrical lithium iron phosphate energy storage power battery project is planned to be implemented by Qujing EVE a subsidiary of EVE, with a total investment of 5.51 billion yuan. The project construction period is 3 years. It is planned to build cylindrical phosphoric acid in Qujing City, Yunnan Province Automated production line for lithium iron power storage battery. After the project is put into production, it will form an annual production capacity of about 23GWh cylindrical lithium iron phosphate power energy storage battery.

The 21GWh large cylindrical passenger car power battery project is planned to be implemented by Chengdu EVE, a subsidiary of EVE, with a total investment of 5.203 billion yuan. The project construction period is 3 years. It is planned to build 46 series in Chengdu, Sichuan Province Ternary large cylindrical battery automated production line. After the project reaches production capacity, it will form an annual production capacity of about 21GWh46 series ternary large cylindrical batteries.