- Eve Energy is set to become the latest Chinese battery maker to list in Hong Kong after CATL.
- Eve Energy held a 2.7 percent share of the global EV battery market in the first four months of the year, ranking ninth.
Eve Energy (SHE: 300014) plans to list in Hong Kong, set to become the latest Chinese battery maker to list there after CATL (SHE: 300750).
The company announced the plan in a Shenzhen Stock Exchange announcement today, stating that the move aims to enhance its international brand image and meet the needs of its international business development.
The proposal to issue H-shares and list on the Hong Kong Main Board was approved at a board meeting on June 7, and the company is currently working with intermediaries to advance the process.
The company will complete the share issuance and listing in Hong Kong at an appropriate time, according to the announcement.
Eve Energy is one of the largest electric vehicle (EV) battery manufacturers, with a global installation volume of 8.3 GWh from January to April, ranking ninth with a 2.7 percent market share, according to data from South Korean market research firm SNE Research.
In China, Eve Energy’s battery installations in April were 1.99 GWh, ranking fifth with a 3.70 percent market share, according to data from the China Automotive Battery Innovation Alliance (CABIA).
Eve Energy will become the latest major battery manufacturer to list in Hong Kong after CATL.
CATL launched its share offering in Hong Kong on May 12 and was well-received by investors, ultimately pricing at the upper end of the guidance range and raising about $4.6 billion.
CATL’s trading began on May 20, with significant gains in the first two days followed by declines thereafter.
As of the close of trading today, CATL has risen 2.23 percent in Hong Kong since its listing.
In addition to CATL, other Chinese power battery manufacturers listed in Hong Kong include CALB (HKG: 3931), Rept Battero Energy (HKG: 0666), and Zenergy (HKG: 3677).
The battery pack will be based on Nio’s in-house developed 4680 large cylindrical battery cells, with small-scale production expected to begin next year.
