Sunwoda is one of the world's largest power battery makers, and its EV battery business was valued at RMB 35.56 billion in its last funding round in June.

In the global market, Sunwoda's January-August installations were 4.7 GWh, ranking 10th with a 1.4 percent share, according to South Korean market researcher SNE Research.

($1 = RMB 7.3128)