A worker checking stacks of lithium-ion battery packs at Xinwangda Electric Vehicle Battery Co.’s factory in the Jiangsu provincial capital of Nanjing on March 12, 2021. Photo: AFP A worker checking stacks of lithium-ion battery packs at Xinwangda Electric Vehicle Battery Co.’s factory in the Jiangsu provincial capital of Nanjing on March 12, 2021. Photo: AFP
A worker checking stacks of lithium-ion battery packs at Xinwangda Electric Vehicle Battery Co.’s factory in the Jiangsu provincial capital of Nanjing on March 12, 2021. Photo: AFP
IPO

China’s booming electric car market prompts lithium producer and battery assembler to raise funds for expansion

  • Tianqi Lithium of Chengdu was given the go-ahead by its board to offer 20 per cent of its enlarged capital in an initial public offering (IPO) in Hong Kong
  • The stock sale could be as much as US$850 million, based on the US$29.5 billion market value of Tianqi’s A shares listed in Shenzhen

Knowledge |   China's electric vehicle industry
A worker checking stacks of lithium-ion battery packs at Xinwangda Electric Vehicle Battery Co.’s factory in the Jiangsu provincial capital of Nanjing on March 12, 2021. Photo: AFP A worker checking stacks of lithium-ion battery packs at Xinwangda Electric Vehicle Battery Co.’s factory in the Jiangsu provincial capital of Nanjing on March 12, 2021. Photo: AFP
A worker checking stacks of lithium-ion battery packs at Xinwangda Electric Vehicle Battery Co.’s factory in the Jiangsu provincial capital of Nanjing on March 12, 2021. Photo: AFP
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