A New Chinese EV Battery Giant Has Emerged
The military-linked company is expanding fast, further cementing Beijing’s dominance of the supply chain and pushing past any geopolitical concerns.
Room for three?
Source: Bloomberg
As countries across the world look to grab their share of the electric vehicle supply chain in a rush to go green, energy storage is becoming a key battleground. To add to the pressure, yet another large Chinese battery player is emerging.
China Aviation Lithium Battery Technology Co., or CALB, is looking to go public in Hong Kong for as much as $2 billion. Formed in 2015 under Luoyang Company, a wholly owned unit of the China Airborne Missile Academy — part of state-owned aerospace and defense firm Aviation Industry Corp of China Ltd. — CALB filed offering documents earlier this year. It will raise money just as the race to build manufacturing scale heats up.