Sunwoda

Sunwoda
Native name
欣旺达电子股份有限公司
Company type
Public
SZSE: 300207
IndustryLithium-ion battery
Founded1997; 29 years ago (1997)
FoundersWang Mingwang
Wang Wei
Headquarters
Shenzhen
,
China
Area served
Worldwide
Websitesunwoda.com

Sunwoda Electronic Co., Ltd., or simply Sunwoda (Chinese: 欣旺达; pinyin: xīn wàng dá) is a Chinese technology company that specializes in the research and manufacture of lithium-ion battery modules.[1][2] It is based in Shenzhen, China. It is one of the largest EV battery suppliers of China.[3][4]

History

Sunwoda Electronic was founded in 1997 by Wang Mingwang and Wang Wei.[5][6]

In 2008, Sunwoda expanded into the EV battery business.[7]

In 2011, Sunwoda went public and was listed on the ChiNext exchange in Shenzhen.[8]

Since 2022, Sunwoda has been listed in Benchmark's Tier 1 of Automotive-grade Battery Producers.[9]

In August 2023, Sunwoda announced that it was constructing an EV battery plant in Nyiregyhaza, northeast Hungary.[10][11][12]

In early 2025, LG Energy Solution won three patent infringement injunctions against Sunwoda.[13]

Operations

Sunwoda is headquartered in Shenzhen and operates production bases in China, Hungary, India, Morocco, Thailand, and Vietnam.[8][14]

Products

Sunwoda produces lithium-ion batteries for mobile phones, laptops, and power tools.[5][2] Sunwoda's EV battery unit supplies products to automakers such as Dongfeng Motor Group, Geely, Volkswagen, Volvo Cars, and Li Auto.[7][15][16]

Sunwoda Electric Vehicle Battery

Sunwoda Electronic Co., Ltd launched the battery business in 2008.[7][17]

In 2020, Sunwoda received regulatory approval for convertible bond issue.[18] In 2022, Sunwoda's EV battery unit received a $1.17 billion Series A investment from Shenzhen Capital Group and National Green Development Fund Management.[19] In November 2022, Sunwoda Electronic raised $440 million through a global depository receipt sale and was listed on the Swiss Stock Exchange.[7][14]

Recognition

  • 2024 Fortune China 500 ranked 332nd[20]
  • 2023 Fortune China 500 ranked 291st[21]
  • 2022 Fortune China 500 ranked 332nd[22]
  • 2021 Fortune China 500 ranked 344th[23]
  • 2020 Hurun China 500[24]
  • 2022 Hurun China 500[25]

References

  1. ^ "Sunwoda to make solid batteries cheaper". China Daily.
  2. ^ a b "Sunwoda profile". Bloomberg.
  3. ^ "6 Chinese companies rank among world's top 10 battery suppliers for EVs, plug-in hybrids, hybrids in 2022". Automotive News.
  4. ^ "Sunwoda, China's sixth-largest EV battery maker, a step closer to IPO". South China Morning Post. October 19, 2023.
  5. ^ a b "Sunwoda Electronic | Company Overview & News". Forbes.
  6. ^ "Wang Mingwang". Forbes.
  7. ^ a b c d "Sunwoda Electric Vehicle Battery Seeking $580 Million Round Before China IPO, Sources Say". February 22, 2023 – via Bloomberg.
  8. ^ a b "Sunwoda Seeks EV Battery Unit Funding at $3 Billion Value". Bloomberg.
  9. ^ "Northvolt & Sunwoda reach Benchmark Tier One status for EV lithium ion battery output". Benchmark Source. June 17, 2022.
  10. ^ "Sunwoda Electronic to build EV battery plant in Hungary". Automotive News.
  11. ^ "China's Sunwoda to build battery plant in Hungary". Xinhua News Agency.
  12. ^ "China's Sunwoda to build battery plant in Hungary". People's Daily.
  13. ^ "LG Energy Solution wins another injunction against China's Sunwoda - The Korea Times". www.koreatimes.co.kr. 2025-07-24. Retrieved 2026-04-06.
  14. ^ a b "Sunwoda Said to Tap Goldman, UBS for $500 Million Swiss Listing". Bloomberg.
  15. ^ "Sunwoda EV Battery Is Said to Weigh IPO Switch to Hong Kong". Bloomberg.
  16. ^ "Sunwoda Electronic to supply batteries to VW's hybrid vehicles". Automotive News.
  17. ^ "Apple Says Three More Suppliers to Use Solely Renewable Power". Bloomberg.
  18. ^ "Sunwoda Electronic Gets Regulatory Approval For Convertible Bond Issue". Reuters.
  19. ^ "China's EV Startups Defy Funding Slump With $6 Billion of Deals". Bloomberg.
  20. ^ "2024 Fortune China 500". Fortune China.
  21. ^ "2023年《财富》中国500强排行榜 - 财富中文网". Fortune China.
  22. ^ "2022年《财富》中国500强排行榜 - 财富中文网". Fortune China.
  23. ^ "2021年《财富》中国500强排行榜 - 财富中文网". Fortune China.
  24. ^ "Hurun Report - Info - Hurun China 500 Most Valuable Private Companies 2020". Hurun Report.
  25. ^ "胡润百富 - 榜单". Hurun Report.

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