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.

Lead the Conversation on China

Subscribe Today to Get Full Access to The China-Global South Project

Check Out Everything You'll Get With Your Subscription

The China-Global South Daily Brief delivered to your inbox at 6AM Washington time

Full access to exclusive news and analysis from editors based in the Global South

Transcripts of CGSP’s twice-weekly podcasts

Students and teachers with a valid .edu email address are eligible for a 50% discount off monthly or yearly subscriptions. Email us to receive a discount code.

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 ...

Congolese Cobalt May Become a Casualty of the New U.S. Climate Law

It appears that the Democratic Republic of Congo and other African countries that produce strategic resources used to manufacture electric vehicle batteries may be sidelined by the new U.S. climate law known as ...

China’s CMOC Set to Overtake Switzerland’s Glencore as the DR Congo’s Top Cobalt Producer

CMOC Group is forecast to overtake Swiss mining giant Glencore as the largest producer of cobalt when the Chinese company brings another massive mine online later this year. Cobalt is a critical ingredient ...

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.