The Great Wall Motor-founded battery and energy storage technology developer is among the latest EV-linked tech companies receiving corporate backing, as the CVC ecosystem builders increasingly incorporate ESG criteria into their investment mandates.
Svolt Energy Technology, a China-based battery technology developer spun out of carmaker Great Wall Motor, has closed a RMB6bn ($943m) series B-plus round featuring multiple corporates, showing robust growth in the country’s electronic vehicle (EV) sector.
Laser equipment maker Han’s Laser Technology and car light producer Changzhou Xingyu Automotive Lighting Systems took part in the round, which included China Mobile Capital, PICC Capital and Taikang Asset Management, respective vehicles for telecommunications group China Mobile and insurance providers PICC Group and…
