Recently, a netizen asked on an investment interactive platform, ‘According to media reports, Great Wall Motors is considering selling its stake in SVOLT. Great Wall Motors has had preliminary negotiations with potential buyers of these equity shares, including CATL (Contemporary Amperex Technology Co., Limited). CATL has conducted initial due diligence on the assets but it is uncertain whether the two companies will proceed with the transaction. Can you confirm if the company has such considerations?’
In response to this, Great Wall Motors replied: ‘This news is not true.’
SVOLT Energy Technology Co., Ltd. was established in 2018 and headquartered in Changzhou, Jiangsu Province, is a professional provider of lithium-ion battery systems. The company focuses on the research and development, production, and sales of power batteries for new energy vehicles and energy storage battery systems.
Since 2012, the company has been conducting pre-research on power batteries and officially became an independent entity serving the entire industry in 2018. Currently, its main products include battery cells, modules, battery packs for large-scale energy storage units, unit-level energy storage solutions, medium-sized energy storage solutions, home energy storage systems (HESS), portable devices, and other comprehensive series of energy storage products. The company can provide overall solutions for power batteries and energy storage products according to customer needs. Wei Jianjun holds direct or indirect shares in the enterprise as well as being the actual controller and key management personnel with a final beneficial shareholding ratio of 39.8673%.
On March 31, 2023, the Shanghai Stock Exchange disclosed that the application of SVOLT Energy Technology Co., Ltd. for listing on the Science and Technology Innovation Board is in a suspended state. On June 30, SVOLT Energy Technology Co., Ltd. updated its listing application review status on the Shanghai Stock Exchange, stating that it has responded to the inquiry letter from the review.