SVOLT
Funding History
| Series A · 02/2021 | $541M |
|---|---|
| Series B+ · 12/2021 | $940M |
About
SVOLT Energy Technology is a Changzhou, China-based EV battery and energy-storage manufacturer spun off from Great Wall Motor in 2018. It builds cells, modules, packs, and storage systems for passenger and commercial vehicles as well as grid and residential storage, operating more than a dozen manufacturing sites and multiple R&D centers worldwide.
- CEO
- Yang Hongxin
- Employees
- 13,000+
- Headquarters
- Changzhou, Jiangsu, China
- Founded
- 2018
- Website
- SVOLT.cn
Overview
SVOLT Energy Technology Co., Ltd. (蜂巢能源), also known as Honeycomb Energy, is a Chinese lithium-ion battery manufacturer headquartered in Changzhou, Jiangsu Province. The company began as a battery development unit inside Great Wall Motor and was spun off as an independent subsidiary in February 2018. SVOLT designs and manufactures battery cells, modules, and packs for electric and hybrid passenger vehicles, commercial vehicles, and energy-storage systems, and has pushed cobalt-free, high-speed-stacked "Dragon-Scale Armor" cell designs and, more recently, semi-solid-state battery technology.
Great Wall Motor remains SVOLT's controlling shareholder and largest customer. The company raised a Series A and a Series B-plus round in 2021 from state investment funds and strategic industrial investors, then filed in late 2022 for an IPO on Shanghai's STAR Market seeking roughly $2.1 billion, only to withdraw that application in December 2023 and begin exploring a Hong Kong listing instead.
SVOLT has since pulled back from Europe, closing its Frankfurt headquarters in late 2024/early 2025 and shelving a planned German battery plant, while continuing to expand manufacturing and win supply agreements in China and other overseas markets including with Stellantis, Hyundai, and Caterpillar.
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