China EV battery maker raises $542m Series A
Svolt Energy Technology, formerly the battery business unit of Chinese automaker Great Wall Motor, has raised a RMB3.5 billion ($542 million) Series A round featuring a string of government-linked investors.
A Bank of China investment unit and a vehicle launched by SDIC Capital and China Merchants Capital led the round. SDIC paid RMB1 billion for 12.2% of Svolt last year, according to AVCJ Research. Other...
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