Oct 20, 2023 06:43 AM

BUSINESS

Sunwoda Prepares for Share Sale of EV Battery Unit

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What’s new: Sunwoda Electronic Co. Ltd., China’s sixth-largest electric vehicle battery producer, started preparing for an initial public offering of its battery business, joining a parade of battery makers raising funds in the capital market.

Sunwoda Electric Vehicle Battery Co. Ltd. (EVB), the EV battery unit of Shenzhen-based Sunwoda, hired Citic Securities to advise it on a listing application, according to a document published Wednesday by the China Securities Regulatory Commission.

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