News

SUNWODA Invests $274 million to Establish An Battery Factory in Hungary

Jul 27, 2023, 19:59pm2023/07/27 20:04:26 Pandaily

On July 27th, Chinese battery manufacturer SUNWODA announced today that the company plans to establish an electric vehicle power battery factory in Hungary, with an initial investment of up to ¥1.96 billion ($274 million).

SUNWODA stated in the documents submitted to the Shenzhen Stock Exchange today that this fund will be used for purposes such as land acquisition, project construction, and equipment procurement.

SUNWODA’s current major clients include XPeng<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> Motors, Mercedes-Benz, and GAC Group. The company is planning to spin off its power battery subsidiary for listing on the ChiNext board of the Shenzhen Stock Exchange.

SEE ALSO: SUNWODA Subsidiary to Go Public Independently, Values at $4.9 Billion

According to previous reports, CATL, the world’s largest battery manufacturer, is building a battery factory worth €7.3 billion ($8.1 billion) in Hungary. The company has already established its first European production base in Germany. In June, EVE Energy also announced an investment of ¥9.97 billion ($1.4 billion) to build a factory in Hungary for the production of large cylindrical batteries.

BYD Builds Another Battery Factory in Hungary

On July 13th, BYD plans to establish a battery assembly plant in Hungary with an investment of over ¥200 million (about $28 million). This is BYD's second factory in the country following the electric bus and truck factory in Hungary.

Sunwoda EVB Completes $886M Financing Round

Sunwoda Electric Vehicle Battery Co., Ltd. (Sunwoda EVB), a subsidiary of Chinese firm Sunwoda, has completed a new round of financing totaling 6 billion yuan ($886 million).

Sunwoda Electric Vehicle Battery Breaks $1B in Round-A Financing

Sunwoda Electric Vehicle Battery Co., Ltd. (Sunwoda EVB) announced on August 25 that it has completed round-A financing of about 8 billion yuan ($1.17 billion).

Sunwoda to Mass Produce Super Fast Charging Batteries within the Year

Sunwoda Electric Vehicle Battery Co., Ltd (Sunwoda EVB), the core company of Sunwoda's power battery business, released the super fast charging battery, SFC480, on September 3, and plans to mass produce it by the end of this year.

We also support Hindi language, do you want change to it?

हम यह भी हिन्दी भाषा का समर्थन है, आप इसे करने के लिए परिवर्तन करना चाहते हैं?

Yes(ह)

We also support Punjabi language, do you want change to it?

ਸਾਨੂੰ ਇਹ ਵੀ ਪੰਜਾਬੀ ਭਾਸ਼ਾ ਨੂੰ ਸਹਿਯੋਗ ਹੈ, ਤੁਹਾਨੂੰ ਇਸ ਨੂੰ ਕਰਨ ਲਈ ਤਬਦੀਲੀ ਚਾਹੁੰਦੇ ਹੋ?

Yes(ਜ)

We also support Bengali language, do you want change to it?

আমরা বাংলা ভাষা সমর্থন, আপনি এটি পরিবর্তন করতে চান?

Yes(হ)

We also support Burmese language, do you want change to it?

ငါတို့သည်လည်း, မြန်မာဘာသာစကားကိုထောကျပံ့သငျသညျကအပြောင်းအလဲလိုသလဲ

Yes(ဟုတ်ကဲ့)

We also support Nepali language, do you want change to it?

हामी पनि नेपाली भाषा समर्थन, तपाईं यसलाई परिवर्तन गर्न चाहनुहुन्छ?

Yes(ह)

We also support Tagalog language, do you want change to it?

Sinusuportahan din namin ang Tagalog wika, ang gusto mong pagbabago dito?

Yes(oo)

We also support Malay language, do you want change to it?

Kami juga menyokong bahasa Melayu, adakah anda mahu perubahan kepadanya?

Yes(yes)

We also support Indonesian language, do you want change to it?

Kami juga mendukung bahasa Indonesia, apakah Anda ingin perubahan untuk itu?

Yes(Iya)

We also support Thai language, do you want change to it?

นอกจากนี้เรายังสนับสนุนภาษาไทย, คุณต้องการที่เปลี่ยนแปลงไปได้หรือไม่

Yes(ใช่)