Sunwoda

Sunwoda plans to complete a 0.2 GWh pilot production line for solid-state battery cells by year-end.

Sunwoda is one of China's largest EV battery makers, with clients including Li Auto, Xpeng, Leapmotor, and SAIC.

The first Firefly model consumes about 10 kWh of electricity per 100 kilometers.

Nio president previously mentioned that its 150-kWh semi-solid-state battery pack costs about the same as an ET5, which starts at RMB 298,000.

Sunwoda will supply batteries for Xiaomi's third model, codenamed "Kunlun," as well as Li Auto's Li M7 and Li M8, according to local media.

Sunwoda is one of the world's largest power battery makers, and its EV battery business was valued at RMB 35.56 billion in its last funding round in June.

The investment is to further improve the company's business layout, serve international customers and expand overseas business, Sunwoda said.

Sunwoda's power battery installations in China amounted to 0.73 GWh in June, placing it at No. 6 with a 2.21 percent share.

This marks Sunwoda's entry into Volkswagen's high-voltage battery supplier system, the company said.

The project, with a total investment of RMB 12 billion, has a planned annual capacity of 30 GWh.