At the end of February 2021, Svolt had already completed an A-financing round of around 450 million euros. The investment should be used to build global production capacity.
For example, the money from the current round of financing is used to promote research and development of new technologies and the construction of new production sites in Changzhou Changzhou, Suining, Huzhou, Ma’anshan, and Nanjing and Europe. This will increase production capacities significantly. Svolt predicts a global production capacity of more than 200 GWh for 2025.
“Through the financing round concluded at the end of July, we can promote the construction and expansion of our production capacities faster. Climate protection and sustainability are already in focus on our future European production sites. Thus, we support regionally the global goals of Svolt to climate neutrality and reduce the CO2 footprint.”- Kai-Uwe Wollenhaupt, President Svolt Europe & Vice President Svolt Energy Technology
Svolt was also to be understood in the announcement of the financing round that one could secure orders of a variety of Chinese and international automakers. Including Great Wall Motors, Geely Automobiles, Dongfeng Motor, Stellantis, SF Motors, Enovate, Leap Motor and Hozon Car. The Chinese company indicates that Svolt’s own battery systems are used in more than 10 vehicle models. Including the Ora Cherry Cat by Great Wall Motors, which will soon be in series production and is powered as the first model with cobalt-free NMX battery cells from Svolt.
In addition, the company recently announced its partnership with the automotive holding Stellantis. With the major order of Stellantis with brands such as Chrysler, Citroën, Fiat, Opel and Peugeot in the amount of 2.08 billion euros, Svolt is part of the global eV battery procurement strategy of the automobile manufacturer and supports the electrification of markets in Europe and the USA.
To the cobalt-free battery: The Chinese battery manufacturer Svolt Energy has announced the start of its cobalt-free battery line in mid-May 2020. The battery technology should enable a range of more than 800 kilometers and up to 880 kilometers per battery charge, with a lifespan of more than 15 years or. 1.2 million kilometers. In mid-July 2021, the serial production of the nickel manganese battery cells (NMX) is started.
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