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.

© ChinTell Ltd. All rights reserved.

Sponsored by HSBC.

The Week in China website and the weekly magazine publications are owned and maintained by ChinTell Limited, Hong Kong. Neither HSBC nor any member of the HSBC group of companies ("HSBC") endorses the contents and/or is involved in selecting, creating or editing the contents of the Week in China website or the Week in China magazine. The views expressed in these publications are solely the views of ChinTell Limited and do not necessarily reflect the views or investment ideas of HSBC. No responsibility will therefore be assumed by HSBC for the contents of these publications or for the errors or omissions therein.