Sunwoda battery company valued at 20 billion, has high-quality energy storage system project
June 21 news, according to Cai Lian News Agency and 36 Krypton news report, sources revealed that Sunwoda launched a power battery business split listing plan at the end of last year, and its subsidiary "Sunwoda Power Battery Company" may be listed as an independent company body, and submit IPO in 2023~2024.
At the same time, Sunwoda EVB is also looking for financing opportunities; the amount will exceed 3 billion yuan, and the company is valued at 20 billion. Sunwoda EVB's valuation will increase by more than 60% if this financing round goes well. However, Sunwoda officially responded to the rumors of listing and funding soon. A person related to Sunwoda's securities department said, "No news has been received yet, subject to the announcement."
It is understood that Sunwoda is a digital 3C lithium battery supplier. It started by making cell phone batteries, entered Apple's supply chain through cooperation with ATL, and became a battery supplier for iPhone, iPad, and other products. Later, it gradually got battery orders from different brands such as Xiaomi, which occupies a very high market share in cell phone batteries. The company released its 2021 financial report, showing annual revenue of 37.359 billion yuan, with cell phone digital business revenue of 20.795 billion yuan and laptop business revenue of 5.419 billion yuan, accounting for more than 70% of total revenue.
Digital 3C is the main business of Sunnyvale, but the electric vehicle is the direction of future development. In 2014, Sunnyvale acquired Dongguan Liwei and initially stepped into the field of power batteries. At the end of July last year, Sunwoda's wholly-owned subsidiary "Sunwoda Electric Vehicle Battery Company" invested jointly with Geely to set up a joint venture company, focusing on producing automotive power batteries, and supplying power battery products for Zhejiang Jirun and Geely Automobile.
In February this year, 19 companies, led by three new car makers, including SAIC, Dongfeng, and GAC, have invested in Sunwoda, and all have high expectations for Sunwoda. Currently, the largest domestic power battery supplier is undoubtedly CATL, the battery supplier of Tesla, BMW, Volkswagen, and other car companies. CATL not only holds advanced technology and patents in the field of batteries but also controls the lifeline of battery supply for many car companies.
Therefore, many car companies are hoping for another alternative battery supplier to reduce their over-dependence on CATL, and Sunwoda has become the standard choice for everyone. In March, Sunwoda released a super fast-charging battery with a range of 700km and a 400km range in 10 minutes of charging, which is quite strong. The product will be ready for production at the end of this year, which might be able to make a name for Sunwoda.
We are unsure if Sunwoda Power Battery Company will be split and listed. Still, another power battery giant is inevitably slowly rising, and we expect Sunwoda to bring more surprises to consumers and investors.
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