SVOLT Energy Technology is another lithium-ion battery maker. It also has an established parent – emerging as a spinoff of carmaker Great Wall Motor.
SVOLT started production of a series of cobalt-free nickel manganese battery cells (NMX) last year. It claims NMX batteries offer similar energy density to conventional high-nickel cell technology but are more durable and cheaper to produce. It plans to start mass production for the European market at a plant in Germany next year.
The company has already announced orders from a range of carmakers, including Great Wall. Late last year there was also news of a major partnership worth Rmb16 billion with automotive holding company Stellantis for sales of SVOLT’s battery cells, high-voltage storage technologies and battery management systems. Stellantis operates brands including Chrysler, Citroën, Fiat and Peugeot.
SVOLT is also said to be preparing for a listing on Shanghai’s STAR Market, a bourse favoured by technology and sciences companies.
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