SVOLT Energy nets A round of financing of 3.5 billion yuan

This round was jointly led by Bank of China Group Investment Limited (BOCG Investment) and SDIC Investment.

The signing ceremony of SVOLT Energy’s Series A financing was held in Changzhou, Jiangsu on February 25th.

This is the second round of market-oriented equity financing for SVOLT Energy.

This round was jointly led by Bank of China Group Investment Limited (BOCG Investment) and SDIC Investment. Other investors include Beijing Financial Street Capital Operation Center (BFSCOC), Changzhou Venture Capital Group, ZJU Jiuzhi Investment Management, IDG, Cathay Capital, Haitong Capital, Virtue Capital, Great Wall Holdings, with a total financing of 3.5 billion yuan.

At present, a new round of global new energy vehicle development has started, and the pace of carbon neutralization in various countries has been accelerating. Batteries have increased capacities to TWh, and the market prospects are extremely broad, the company said.

Yang Hongxin, chairman and president of SVOLT Energy, revealed that this financing will be mainly used for research and development of new technologies and expansion of production capacity.

Since its establishment in 2018, SVOLT Energy has developed in cobalt-free batteries, stacking technology, solid-state batteries, and AI-based intelligent manufacturing, and has quickly been fully recognized by major international and domestic OEMs.

At present, it has obtained 16 designated sales locations from mainstream brands at home and abroad, including Great Wall Motor, Geely, Dongfeng, PSA, etc.

In January this year, the company’s installed capacity ranked seventh in the industry again, and its new projects such as Changzhou Jintan Phase III 6Gwh, Sichuan Suining 20Gwh, Zhejiang Huzhou 20Gwh and other new projects started construction one after another.

At present, the company has deployed seven R&D centers around the world, and has applied for more than 2,000 patents, including 800 invention patents and 48 PCT international patent applications.

The company was rated as “2020 China’s Auto Industry Intellectual Property Outstanding Enterprise” by China Automotive Engineering Society, and “2020 Unicorn Enterprise in Southern Jiangsu National Independent Innovation Demonstration Zone” by Jiangsu Science and Technology Department.

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