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Chinese Ev Battery Maker Phylion Looks To Raise $236M In New Round

Mar 16, 2022•over 3 years ago

Amount Raised

$236 Million

Description

Phylion, a maker of lithium-ion batteries for electric vehicles (EVs), is planning to raise up to 1.5 billion yuan ($236 million) in a new round of financing, according to a statement on Tuesday

Company Information

Company

Phylion

About

Meanwhile, the company runs overseas subsidiaries in the Netherlands and India, with plans for production bases in Eastern Europe and India. “This round of financing is an important process for Phylion to enter the capital market,” the company had said at the time. Phylion claims its production capacity will touch 10.2 GWh by the end of this year. Besides, Phylion also had the backing of CCB International, Qingdao City Construction Investment, Yuekai Securities’ investment arm Yuekai Capital, Puhua Capital, and Fortuna Capital, among others.

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