Chinese EV-Battery Maker Phylion Looks to Raise $236 Million

Photo: Phylion

(DealStreetAsia) — Phylion, a maker of lithium-ion batteries for electric vehicles (EVs), is planning to raise up to 1.5 billion yuan ($236 million) in a new round of financing, according to a statement on Tuesday.

State-backed Shenzhen Capital Group Co. Ltd., the lead investor of the round, has already seeded 950 million yuan, the statement added.

Upon completion of the deal, Phylion will accelerate innovations in technology, pipelines and business.

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