Battery Maker Svolt In Talks To Raise $462-$770 Million: Report

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  • SVOLT, which is making EV batteries in China’s eastern city of Changzhou and Wuxi, will have a global production capacity of battery cells of around 200-gigawatt hours (GWh) in 2025
  • The company is also building a battery factory in Germany

SVOLT, an electric vehicle (EV) battery maker linked to China’s Great Wall Motor, is in talks with potential investors to raise 3-5 billion yuan ($462-$770 million), its chairman Yang Hongxin told Reuters. The report added that SVOLT, which is making EV batteries in China’s eastern city of Changzhou and Wuxi, will have a global production capacity of battery cells of around 200-gigawatt hours (GWh) in 2025.

Factory to make cylindrical battery cells for mobility business including electric bikes

The company is also building a battery factory in Germany. The chairman added that SVOLT has also acquired a factory to make cylindrical battery cells for mobility business including electric bikes.

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EV battery makers in China, including CATL and BYD, have been growing in recent years thanks to booming EV sales in the world’s biggest auto market.

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