(Yicai Global) Sept. 27 -- Guangdong province-based lithium battery maker Eve Energy or its subsidiary will strike a deal with South Korea's SK innovation to set up a joint venture, the parent announced in a statement yesterday.

The JV, which will produce soft-package power batteries for auto companies, will have an annual production capacity of 20-25 gigawatt hours.

Eve Energy will invest USD525 million in cash to contribute half of the JV firm's registered capital.

Editor: Ben Armour