Great Wall Motor's automotive battery technology spinoff has raised $541m in a round co-led by Bank of China Group Investment and CMG-SDIC Fund Management.
SVolt Energy, a China-based energy storage and battery technology developer spun off by carmaker Great Wall Motor, has received RMB3.5bn ($541m) in series A funding, DealStreetAsia reported today.
Bank of China Group Investment, a subsidiary of financial services firm Bank of China, co-led the round with asset manager CMG-SDIC Fund Management.
The round included Beijing Financial Street Capital Operation Centre, Changzhou Venture Capital Group, ZJU Jiuzhi Investment Management, IDG Capital, Cathay Capital and HT Capital, a private equity vehicle for…
