China Battery Maker CALB IPO to Raise $1.5 Billion

CALB, China Aviation Lithium Battery company, has filed for an IPO on the Hong Kong stock exchange.

In January 2022, Chinese battery manufacturer CALB (China Lithium Battery Technology) signed contracts with two cities in the southern Chinese province of Guangdong to build new production facilities. The two planned factories in Guangzhou and Jiangmen will each be designed for an annual capacity of 50 GWh.

The Guangzhou factory will be built in two phases. These will likely be building Lithium Iron Phosphate batteries.

XPeng could be a customer for at least one of these factories.

CALB currently has seven production sites in Changzhou, Luoyang, Xiamen, Chengdu, Wuhan, Hefei and Heilongjiang with a planned capacity of 200 GWh for 2022. CALB has capacity targets of 500 GWh by 2025 and 1,000 GWh by 2030. CALB is also planning a factory in Europe.

SOURCES – Hong Kong Stock Exchange
Written By Brian Wang,