February 8, 2023

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At the night of February 24, Chinese language main lithium-ion battery maker Sunwoda introduced that its wholly owned subsidiary, Sunwoda Electrical Car Battery Co., Ltd. (Sunwoda EVB), won an funding value 2.43 billion yuan ($380 million) from a complete of nineteen separate traders.

After the deal is finished, registered capital of Sunwoda EVB will build up from 5.087 billion yuan to six.325 billion yuan. Sunwoda remains to be the controlling shareholder of its subsidiary, with a shareholding ratio of 57.5%. The entire contemporary capital raised on this spherical can be used for day by day running price range.

A number of the traders, Jiangsu Chehejia Car, a Li Auto associate, and Weirui Funding, an associate of NIO Inc., larger their capital by means of 400 million yuan and 250 million yuan, respectively, thereby preserving 3.21% and a couple of.01% of fairness stocks in Sunwoda EVB. As well as, Chinese language media outlet 36Kr realized that XPeng Motors is in truth in the back of Sky Most sensible LLC, the second one investor on this spherical of financing, which contributed 400 million yuan and got 3.21% of stocks general.

Along with the 3 new carmaking corporations, Sunwoda EVB’s traders come with affiliated corporations of conventional automotive giants, equivalent to SAIC Motor and Dongfeng. Which means Sunwoda’s building within the box of energy batteries has been identified by means of quite a lot of main automotive corporations, with which it will succeed in long run cooperation.

Sunwoda’s primary industry is lithium-ion batteries for smartphones, laptops and cars, whilst Sunwoda EVB is the core corporate running its energy battery industry.

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Sunwoda up to now disclosed that it has got energy battery orders for lots of new automotive fashions, such because the SAIC-GM-Wuling and Dongfeng Liuqi, and has additionally performed industry cooperation with the Renault-Nissan Alliance, Geely, Dongfeng Liuqi and different automotive corporations.

In September closing 12 months, Sunwoda EVB finished its first spherical of financing value 750 million yuan, as 4 new shareholders got stocks, together with corporations below Wang Mingwang and Wang Wei, the real controllers of Sunwoda.

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The corporate is recently development new energy battery manufacturing bases in Nanchang, Jiangxi Province and Zaozhuang, Shandong Province. Amongst them, the Nanchang program has a complete funding of about 20 billion yuan and a deliberate battery capability of fifty GWh, which can be invested in 4 levels. The Zaozhuang program additionally has an funding of about 20 billion yuan, and plans to construct an influence battery and effort garage battery manufacturing unit with an annual manufacturing capability of 30 GWh.

In keeping with the China Car Battery Innovation Alliance, in 2021, the put in capability of Sunwoda’s car battery operations exceeded 2 GWh, score 10th in China.