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).
On July 15th, Sunwoda released a proposal regarding the spin-off of its subsidiary, Sunwoda EVB, for listing on the ChiNext board of the Shenzhen Stock Exchange.
At the 20th Shanghai International Automobile Industry Exhibition, Sunwoda EVB, a Chinese battery manufacturer, introduced the "flash charging battery". This innovative technology enables electric vehicles to travel up to 1000 kilometers on a single charge.
Voyah, the luxury division of Chinese state-owned automaker Dongfeng Motor, has added ten shareholders including lithium miner Ganfeng Lithium and battery maker Sunwoda.
Fluctuating supply and demand within China's lithium-ion battery industrial chain has attracted widespread attention recently. Production capacity now far exceeds demand, and some entities in the sector are seemingly pursuing blind expansion and hoarding.
Chinese battery manufacturer Sunwoda completed its issuance of global depository receipts (GDRs) on November 14 and listed them on the Swiss Stock Exchange, becoming the fourth company also traded publicly in Shenzhen to successfully list GDRs in Europe.
An investment roadmap released on September 27 by Chinese battery company EVE Energy, which has a market value of over 170 billion yuan ($23 billion), has offered further insight into the potential of the lithium industry.
Chinese second- and third-tier battery manufacturers have been ramping up production and accelerating their overseas presence this year, vying for market share alongside first-tier players such as CATL and BYD.
The electric vehicle battery subsidiary of Shenzhen-based Sunwoda will jointly invest about 12 billion yuan ($1.71 billion) alongside three other parties to build a 30GWh battery production base, according to an announcement on September 15.
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.
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 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).
On July 28, four Chinese companies, including battery firms Gotion High-Tech and Ningbo Shanshan, electronic waste recycling firm GEM, and building materials machinery manufacturer Keda Industrial were officially listed to the SIX Swiss Exchange.
On July 17, Chinese battery maker Sunwoda announced that its Zhejiang subsidiary intends to acquire the Laguna Caro mining rights project held by Goldinka Energy S. A. in Argentina.
Lithium manganese iron phosphate batteries from Contemporary Amperex Technology Co., Ltd. (CATL), Sunwoda and EVE Energy Co., Ltd. have passed pilot scale tests in the first half of this year.