VW Chinese partner DU-POWER introduces Gangfeng Lithium as new investor

Shanghai (Gasgoo)- DU-POWER (SuZhou) New Energy Technical Co., Ltd. (called "DU-POWER" for short), a Chinese flexible charging solution provider, recently introduced several new investors, including Jiangxi Ganfeng Lithium Co.,Ltd., (called "Ganfeng Lithium" for short), one of the world’s top producers of battery-grade lithium.

DU-POWER's flexible fast-charging station POWER BANK; photo credit: DU-POWER

DU-POWER was incorporated in March 2017 in Suzhou city, Jiangsu province. According to the corporate data platform Tianyancha, DU-POWER is permitted to sell battery swapping equipment for NEVs, distributed AC charging piles and NEV production & testing facilities, operate EV charging infrastructures, and manufacture auto parts, PTD(power transmission and distribution) equipment and electric motors.

Currently, registered capital of DU-POWER has increased to 31.827 million yuan ($5.018 million) from 27.977 million yuan ($4.411 million).

The introduction posted on DU-POWER's official website says the company focuses on boosting new energy electrification globally with its R&D efforts embracing the fields like communications, battery energy storage, and conductive charging.

DU-POWER has built a 50/50 joint venture with Volkswagen Group Components, the components subsidiary of Volkswagen Group, to co-produce flexible quick charging stations in China. According to the agreement both parties signed in April 2020, the start of series production of the charging stations was scheduled for the second half of 2020.

"Establishing production with a local partner is a key step in the rapidly growing electric vehicle market," said Volkswagen Group.