China Lithium Battery Technology, or CALB, is an EV battery and storage systems maker. It has been spun out of state-owned conglomerate AVIC, which is leading player in China’s aerospace and defence sectors.
With clients including established automakers like SAIC-GM-Wuling Automobile and new entrants such as XPENG, Jiangsu-based CALB is scaling up aggressively in its bid to rival CATL in lithium-ion battery production, with factories in eight cities, including Changzhou, Luoyang, Xiamen and Chengdu.
It is also trying to emulate sector leader CATL in going public. CALB filed for a Hong Kong IPO in March, hoping to raise at least $1.5 billion in the listing. The company says it will use the new funds to deepen its global research facilities, including in North America. Also overseas, CALB has signed initial terms on a deal to build a battery plant in Europe.
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