Shanghai (ZXZC)- On December 18, REPT BATTERO Energy Co., Ltd. ("REPT BATTERO"), a Chinese lithium ion battery maker, successfully went public on the Hong Kong Stock Exchange with a global offering of 116 million shares, raising a net capital of HKD 2.013 billion.

Photo credit: REPT BATTERO

The majority of the funds, 80%, are earmarked for expanding the company's production capacity, while the remaining portion is allocated for R&D, as well as operational capital.

In 2022 and the first half of 2023, REPT BATTERO held an 8.8% and 5.7% market share, ranking third and fourth, respectively, among lithium-ion battery manufacturers globally in terms of global ESS (energy storage system) battery installation capacity, and a 1.7% and 1.2% market share, ranking tenth in both periods, of the EV (electric vehicle) battery products in China in terms of amount of installation, according to the company’s draft prospectus.

REPT BATTERO's portfolio of power battery clients includes SAIC-GM-Wuling, Leapmotor, VREMT (Viridi E-Mobility Technology), alongside prominent automotive companies headquartered in the Netherlands, Germany, and a leading U.S. electric vehicle manufacturer.

Currently undergoing expansion, REPT BATTERO aims to increase the production capacity of its Jiashan factory to 77GWh and its Wenzhou factory to 50GWh by the end of 2025. Furthermore, plans are underway to establish new production facilities in Foshan, Liuzhou, and Chongqing cities, targeting capacities of 32GWh, 20GWh, and 30GWh, respectively.

Established in October 2017 with a registered capital of 500 million yuan, REPT BATTERO, located in Shishan Town, Nanhai District, Foshan City, specializes in the R&D, production, and sales of lithium-ion battery cells and systems for power and energy storage applications. Its primary products include prismatic aluminum-shell blade lithium iron phosphate batteries and ternary batteries, serving a diverse range of sectors, including passenger vehicles, commercial vehicles, construction machinery, and energy storage.