Battery

Sunwoda plans to issue GDRs and have them listed on the SIX Swiss Exchange/London Stock Exchange. In March, Gotion High-tech announced a similar plan.

The technology enables batteries to achieve fast charging rates of 2C and above, with a lifetime of more than 1.5 million kilometers, GAC said.

Gotion's planned global production capacity will reach 300 GWh by 2025, with 100 GWh in overseas markets.

A subsidiary of Tianqi Lithium has signed an agreement with LG Chem to sell lithium hydroxide to the latter from January 1, 2023 to December 31, 2026.

Gotion batteries produced in Argentina are expected to be used in Germany, India, the United States, Spain and Vietnam, it said.

It was previously rumored that Tesla would participate in the share subscription for Tianqi Lithium, although this was not confirmed.

Sunwoda EVB is seeking a new round of financing estimated at more than RMB 3 billion ($448 million), valuing it at RMB 20 billion, according to local media.

Gotion's power cell production capacity in China is expected to reach 100 GWh by the end of this year.

The semi-solid-state battery has an energy density of 360Wh/kg, much higher than the 210Wh/kg of conventional ternary lithium batteries, according to a Gotion executive.

The battery has 13 percent to 25 percent higher energy density than conventional lithium-ion batteries, and can be fully charged in 20 minutes.