Chinese electric vehicle battery maker Sunwoda has raised RMB 8 billion (around $1.18 billion) in a new round of funding from a group of domestic venture capitalists, including Broad Vision Funds and Source Code Capital, LatePost reported Tuesday, citing people familiar with the matter. State-owned investors Shenzhen Capital Group and National Green Development Fund also participated in the financing round, which valued the CATL challenger at RMB 30 billion, the report said. The Shenzhen-listed battery manufacturer reported revenue of RMB 2.9 billion from its EV battery business in 2021, a 585% increase from the previous year. [LatePost, in Chinese]
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