CALB currently has seven manufacturing sites and aims to have 1,000 GWh of capacity by 2030.

On January 25, CALB signed a contract with the government of Huadu district, Guangzhou, Guangdong province, to build a local base with a planned annual capacity of 50 GWh to produce power batteries and energy storage systems.

On January 26, CALB signed a contract with the government of Jiangmen city, Guangdong province to build another battery production base with a planned annual capacity of 50 GWh in the city.

CALB said at the time that the signing of the two bases was an important milestone in its accelerated global layout and would underpin the company's strategic goals.

The series of moves are part of the company's efforts to expand its production capacity and realize its ambitious plans for the future.

Founded in 2007, CALB is headquartered in Changzhou, Jiangsu province and currently has seven manufacturing sites in Changzhou, Luoyang, Xiamen, Chengdu, Wuhan, Hefei and Heilongjiang. It has a planned capacity of 200 GWh for 2022.

At the end of November last year, CALB said its capacity would exceed 500 GWh by 2025, an upward revision from the 300 GWh announced in June. The company expects to have 1,000 GWh of capacity in 2030.

CALB filed the first version of its initial public offering documents with the Hong Kong Stock Exchange on March 11, planning to support its further expansion through the listing.

The filing did not mention the number of shares the company plans to issue or the amount of money it plans to raise, but media reports earlier this month said CALB's IPO could raise as much as $1.5 billion and is expected to be the largest IPO in Hong Kong so far this year.

EV battery maker CALB files for Hong Kong IPO