News

scroll down
Home Page > SDIC News > SDIC FOCUS NEWS
 

SDIC Investment Management Co makes additional investment in Svolt Energy Technology

2021-08-03

SDIC Investment Management Co-invested Svolt Energy Technology Co Ltd announced the completion of B-round financing transaction of 10.28 billion yuan on July 30, 2021. The financing was led by Bank of China Group Investment Limited and joined by the sub-fund of the National Fund for Technology Transfer and Commercialization, Country Garden Venture Capital, Shenzhen Capital Group Co Ltd, CCB Investment, IDG, Sany Heavy Industry and Xiaomi Group. SDIC Investment Management Co made additional investment in Svolt.

Based on its predication that the automotive industry would accelerate its pace of e-vehicle transformation and battery industry would need to make continuous upgrades, SDIC Investment Management Co signed an agreement on strategic investment with Svolt Energy Technology Co on April 29, 2020, and made additional investment in Svolt’s A-round and B-round financing so as to support Svolt to quicken its pace of building new production capacity and enhancing new technology R&D.

Up to date, Svolt has won 25 auto clients, including the leading domestic and international automobile companies of Great Wall Motor, Geely Auto, Dongfeng Motor, PSA, He Zhong Auto Group, SF Motors, Enovate Motors, and Leap Motor etc. More than 10 e-vehicles have been equipped with Svolt battery systems and one E-SUV is expected to put into mass production soon. Svolt has also won a 16 billion yuan contract from Stellantis, the world’s fourth largest automobile company, marking its success of selling its products to the high-end market in Europe and America.

Svolt Chairman and President Yang Hongxin said that at the moment, his company has won sufficient orders from clients and needs to accelerate constructing new production bases in Changzhou, Suining, Ma'anshan, and Nanjing as well as Europe.

The money raised from the B-round financing will mainly be used in new technology R&D and production capacity expansion. It is predicted that by 2025, Svolt's annual output capacity will hit 200GWh.

A new and hi-tech enterprise in the world's e-vehicle battery industry, Svolt is committed to spearheading innovation in the manufacturing and R&D of the next generation battery materials, cells, modules, systems, BMS and energy storage system. In the meantime, Svolt has started to draft its emission peak and carbon neutrality road map and is committed to achieve its goals of emission peak and carbon neutrality through the measures of improving efficiency, building green energy supply systems, purchasing green energy, green buildings, using recycled materials and carbon offset.

SDIC Investment Management Co focuses on technology innovation and industrial transformation opportunities of e-vehicle and smart manufacturing development trends and has invested in a series of outstanding enterprises with their own innovation technologies, such as CATL, BYD, NIO, ENM Corp, Horizon Robotics, Banma Network Technology, Joyson Electronics, ArcSoft, Baolong, and Asensing Technology,etc. SDIC Investment Management Co has joined hands with the e-vehicle industry to actively support the development of China's new energy vehicles.




 

Copyright © State Development

and Investment Group Co., Ltd.All rights reserved.

Copyright @ SDIC.com.cn lnc. All rights reserved 京ICP备2021000692号-1

Produced By CMS 网站群内容管理系统 publishdate:2021/08/11 16:41:39