June 21 news, according to Cai Lian News Agency and 36 Krypton news reports, sources revealed that Sunwoda launched a plan to split its power battery business for listing at the end of last year, and its subsidiary "Sunwoda Power Battery Company" may be listed as an independent company, and submit an IPO in 2023~2024.

(Source: Sunwoda official)

At the same time, Sunwoda EVB is also looking for financing opportunities, which will amount to more than 3 billion yuan, valuing the company at 20 billion yuan. If this round of financing goes well, Sunwoda EVB's valuation will increase by over 60%. However, Sunwoda officials quickly responded to the rumours of listing and financing, with a source from Sunwoda's securities department saying, "No news has been received yet, subject to the announcement".

It is understood that Sunwoda is a digital 3C lithium battery supplier, started by doing mobile phone batteries, entered the Apple supply chain through cooperation with ATL and became a battery supplier for iPhone, iPad and other products. Later, it gradually got the battery orders from other brands such as Xiaomi, occupying a very high share in the mobile phone battery market. The company released its 2021 financial results, showing annual revenue of RMB 37.359 billion, with revenue of RMB 20.795 billion from the mobile phone digital business and RMB 5.419 billion from the laptop business, both accounting for over 70% of total revenue.

(Source: Sunwoda Official)

Digital 3C is Sunwoda's main business, but electric vehicles are the way forward, and in 2014, Sunwoda acquired Dongguan Liwei to initially enter the power battery sector. At the end of July last year, Sunwoda's wholly-owned subsidiary, Sunwoda Electric Vehicle Battery Company, invested in a joint venture with Geely to produce automotive power batteries for Zhejiang Jirun and Geely Automobile.

In February this year, a total of 19 companies, led by three new car makers, including SAIC, Dongfeng and GAC, invested in Sunwoda, and all of them have high expectations for Sunwoda. At present, the largest power battery supplier in China is undoubtedly CATL, which is also the battery supplier of car companies such as Tesla, BMW and Volkswagen. CATL not only holds advanced technology and patents in the battery field, but also controls the lifeline of battery supply for a large number of car companies.

(source: Sunwoda official)

So, there are definitely many car companies hoping for another alternative battery supplier to reduce their over-reliance on CATL, and Sunwoda has become the common choice. In March, Sunwoda released a super fast-charging battery with a range of 700km and a range of 400km in 10 minutes of charging, which is quite a strong performance. The product will be ready for production by the end of this year, and may be able to make a name for itself.

We don't know if Sunwoda Power Battery will be split up and listed, but it's safe to say that another power battery giant is slowly emerging, so expect Sunwoda to bring more surprises to consumers and investors.