Sunwoda Electric Vehicle Battery Co. is in talks with potential buyers to boost as a lot as RMB 4 billion ($580 million) at a valuation of greater than RMB 30 billion in a pre-initial public providing funding, Bloomberg reported on Wednesday. The Chinese EV battery maker will doubtless file for a list on Shanghai’s Nasdaq-style Star Market as early as June, the report mentioned, after its Shenzhen-listed mother or father Sunwoda Electronics Co started promoting shares on the Swiss inventory change final November. Sales of the corporate’s EV batteries surged 253.2% yearly to 9.2 gigawatt-hours (GWh) in 2022, shortly catching up with its larger rivals CATL, BYD, CALB, and Gotion High-Tech, in keeping with figures from South Korean consultancy SNE Research. [Bloomberg]
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