CALB (China Lithium Battery Technology) , a top lithium battery maker in China, has initiated its IPO process in Hong Kong, as disclosed by International Department of China Securities Regulatory Commission on 29 Dec, 2021. Huatai International will lead the transaction, aiming to raise US$1 billion.
Founded in 2007, CALB is a high-tech enterprise specializing in the R&D, production, sales of lithium-ion power batteries, battery management systems, and energy storage batteries.
CALB has become a dark horse in electric vehicle battery market in 2021, quickly catching up with CATL(300750.SZ)—a global leader in lithium-ion battery and BYD(01211.HK), a car and battery maker.
There are certainly some great innovations that drive the company’s speedy development.
For example, it has customized an exclusive “magazine battery” for GAC Group. The entire battery cell insulation compartment adopts aerospace nanotechnology, which can withstand temperature as high as 1400°C. At the same time, the company has developed a new generation of product called One-stop Bettery (A word coined by mixing better battery), powered by innovations in material, manufacturing technology, and battery management system.
Now CALB’s automotive customers already include some major traditional players in the automotive industry, such as GAC Aion, Changan Auto, Dongfeng Motor, and Geely Automobile. Another rising star in China’s EV market might soon join the list. It is said that Xpeng planned to introduce a new battery supplier, which is highly likely to be CALB.
It is the best of times for high-tech battery makers.
As CALB aims to “innovate for the benefit of mankind”, it needs continuous financial support from investors and common consumers. Before its IPO initiative started, it had gone through several rounds of funding, receiving billions of dollars from venture capital firms and local governments.
“Since the beginning of 2021, our company has expedited the strategic expansion and we have set up production bases in Changzhou, Luoyang, Xiamen, Chengdu, Wuhan, Hefei, and Heilongjiang to form industrial clusters,”said Jinyu Liu, president of CALB. “We are also planning to build industrial bases and research centers in Europe and North America and develop four major research centers in Shenzhen, Shanghai, Chengdu, and Changzhou.”Jinyu Liu, president of CALB.
In September 2021, CALB has also announced the expansion of its production capacities to 300 GWh by 2025.
Among other things, the company is planning a new factory in Hefei with a capacity of 50 GWh. International carmakers could also benefit from this.