Chinese automakers, EV firms invest $385m in Sunwoda's battery unit at $2b valuation

Chinese automakers, EV firms invest $385m in Sunwoda's battery unit at $2b valuation

Source: CHUTTERSNAP/Unsplash

Sunwoda Electric Vehicle Battery, an electric vehicle (EV) battery maker affiliated with the publicly-listed Sunwoda Electronic, is planning to raise 2.43 billion yuan ($385.1 million) from a consortium of investors including China’s major EV firms and traditional automakers.