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China Li-ion battery companies--Targeting EU Market

Sunwoda official announced 2 billion yuan factory!

On July 27,Sunwoda announced plans to build a factory in Europe.

The announcement said that the company's subsidiary Sunwoda Power through its subsidiary Hungary Sunwoda, with its own and self-raised funds in Hungary to invest in the construction of new energy vehicle power battery factory phase I project, the investment amount does not exceed 1.96 billion yuan.

Two years painstakingly, battery business will eventually be listed

Driven by the high increase in the market in the past two years, Sunwoda has become a "dark horse" in the field of power batteries.

In 2022, Sunwoda Power achieved revenue of nearly 13 billion yuan, battery shipments reached 12.11GWh, ranking in the top three domestic ternary battery installed capacity, the top five total installed capacity, and the top nine global total installed capacity.

On the evening of July 14, Sunwoda issued a relevant announcement, announcing that it would spin-off its Sunwoda Power Technology Co., Ltd. to the Shenzhen Stock Exchange GEM listing.

Sunwoda's spin-off listing plan may have been in the works for two years
In fact, as early as 2021, there were media reports that Sunwoda has started the spin-off of the power battery business, and the power battery company after the spin-off will launch an IPO in 2023-2024.

During this period, Sunwoda has completed several rounds of financing, and market attention has continued to rise.

In February 2022, Sunwoda received 2.43 billion yuan in financing, and a total of 19 investors participated. In this investment, NIO,Xiaomi,LIXIANG,SAIC, Dongfeng and other car companies loom.

In August 2022, Sunwoda EVB completed A round of financing of about RMB 8 billion, led by Bohua Capital, Shenzhen Venture Capital, Source Capital and the National Green Development Fund.

In November 2022, Sunwoda issued Global Depositary Receipts on the Swiss Stock Exchange, raising about $440 million (about 3.1 billion yuan).

In June this year, Sunwoda Power completed a new round of capital increase. This round of capital increase China life (Wuxi), Bank of China Assets, CCB Navigator and other eight institutions jointly invested, a total investment of 1.65 billion yuan, 4.64% of the equity.

If the battery business is successfully spun off and listed, it will further broaden financing channels and form a strong support for Sunwoda's expantion to oeverseas


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