Xingwanda EVB has completed an 8 billion RMB Series A financing round led by prominent investors to enhance production capacity and technological development in the electric vehicle battery market.

Target Company Information

Xingwanda Electric Vehicle Battery Co., Ltd. (Xingwanda EVB) has successfully completed its Series A financing round, raising approximately 8 billion RMB. The funding was jointly led by Bohua Capital, Shenzhen Capital Group, Source Code Capital, and the National Green Development Fund. This capital will primarily be utilized for expanding production capacity, advancing technology development, and facilitating product iteration.

Founded in 2014, Xingwanda EVB aims to become a world-class provider of power battery systems and solutions. Its parent company, Xingwanda Electronics Co., Ltd., was established in 1997 and has solidified its position as a leader in the global lithium-ion battery sector. The company operates six major industry segments, which include consumer electronics batteries, smart terminal products, power batteries, energy storage systems, energy internet, and automation and smart manufacturing. Notably, Xingwanda is the largest supplier of mobile phone batteries globally, serving major clients such as Apple, Xiaomi, OPPO, and vivo.

Industry Overview in China

The electric vehicle battery market in China has experienced substantial growth, with data from the China Automotive Power Battery Industry Innovation Alliance indicating a 110.6% year-over-year increase in the cumulati