Follow CGSP on Social Media

Listen to the CGSP Podcast

Chinese EV Battery Maker Unveils Multibillion Dollar IPO, Will Use Proceeds to Develop Next-Gen Cobalt-free Batteries

by Eric Olander
Hector RETAMAL / AFP

One of China’s hottest electric vehicle battery makers announced plans to go public on the Shanghai Stock Exchange’s NASDAQ-like STAR market in a bid to raise $2 billion to build next-generation EV power packs.

SVOLT Energy Technology Co. is an important player in the Chinese EV battery space as it’s the offspring of auto major Great Wall Motors and is now partially owned by electronics giant Xiaomi. It also has the backing of some of China’s largest and most influential state-owned enterprises, including China Mobile and insurance giant PICC.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More

You Might Like

China’s Dominance of the Congolese Cobalt Sector May Not Actually Matter Much in the Near Future

The new U.S. climate law, officially known as the Inflation Reduction Act, has a number of provisions aimed at breaking China’s hold on certain strategic resources like cobalt, widely seen as vital to ...

Is the DRC Making Progress in Reshaping Its Controversial Chinese Deals? Maybe.

Is the DRC Making Progress in Reshaping Its Controversial Chinese Deals? Maybe!
The Democratic Republic of Congo could be closer to overhauling two controversial Chinese deals. Finance Minister Nicolas Kazadi told Reuters the government is in active talks with Sicomines, a joint venture between the DRC’s ...

China’s Ambassador to the DR Congo to Leave

Chinese ambassador to the Democratic Republic of the Congo stopped by the Defense Ministry in Kinshasa this week to say goodbye to Minister Gilbert Kabanda.  Zhu also left a ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

Subscribe