BYD, CATL and PetroChina’s Kunlun Capital vehicle were among the investors in a round valuing the lithium-ion battery material producer at $1.5bn.

China-listed lithium battery provider Ningbo Shanshan is among the investors that have provided RMB3.05bn ($472m) in funding for its Shanghai Shanshan Lithium Battery Material Technology subsidiary.

Electric vehicle manufacturer BYD and battery producer Contemporary Amperex Technology (CATL) also took part in the round, together with oil and gas supplier PetroChina’s Kunlun Capital unit and CATL-backed vehicle Wending Investment, at a valuation of $1.5bn.

Ningbo Shanshan provided nearly $371m while Wending and BYD injected $46.3m and $23.2m respectively. CATL and Kunlun…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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