BYD, CATL back $472m deal in Chinese new energy firm Ningbo Shanshan unit

BYD, CATL back $472m deal in Chinese new energy firm Ningbo Shanshan unit

An Apple MacBook Lithium-Ion-Battery. Photo: Mika Baumeister/Unsplash

Ningbo Shanshan, a publicly listed Chinese lithium-ion battery materials manufacturer, has teamed up with four strategic investors to invest a total of 3.05 billion yuan ($471.5 million) in its holding subsidiary, the firm announced on Wednesday.