• Wed. Sep 28th, 2022

The Chollima Report

The Star of the East

Caixin: UBS and JPMorgan Fuel Biggest Chinese Battery-Maker’s $2.8 Billion Fundraiser

ByThe Chollima Report

Jul 18, 2020

Caixin: Banking Giants UBS (Switzerland) and JPMorgan (US) are financing a multibillion dollar investment in China’s largest electric vehicle battery manufacturer Contemporary Amperex Technology Co. Ltd. The deal has involved nine private investors provide the firm with $2.1 billion through a private share placement on Friday.

The deal aims to expand production capacity and fund research and development. Buoyed by Telsa and other initiatives to fund renewable energy projects, China continues to be one of the world’s leading and emerging markets for electric vehicles.