SVOLT is an EV battery manufacturer led by Chairman and CEO Yang Hongxin that develops battery systems including cobalt-free chemistries. The company operates seven R&D centers in Japan, South Korea, the US, India, Wuxi, Baoding and Shanghai and has applied for more than 2,400 patents, including ~800 invention patents and 50 PCT international patents. SVOLT has secured 25 sales points with domestic and international mainstream automakers and more than 10 models powered by its battery system have been announced, including the ORA Cherry Cat using its cobalt-free battery. The company won a large purchase order of 16 billion yuan from Stellantis and is entering high-end markets in Europe and the US. SVOLT plans rapid capacity expansion with new bases in Changzhou, Suining, Huzhou, Ma’anshan, Nanjing and Europe and expects production capacity to exceed 200 GWh in 2025. The Series B proceeds will be used mainly for R&D of new technologies and construction of new factories.

Total raised

$1.6B

Funding rounds

1

Latest round

Series B

Latest activity

Aug 2021