Image Source : China Visual

BEIJING, December 7 (TMTPOST) —— Chinese Power Battery Company REPT Battero recently submitted an overseas listing application, according to the China Securities Regulatory Commission(CSRC).

It means that the last TOP 10 domestic enterprise in power battery installed volume, which did not file for listing before, started the IPO process.

REPT Battero is the first enterprise invested by Tsingshan Holding Group Ltd. in the new energy field. As one of the Fortune 500 companies, Tsingshan Holding is the world's largest stainless steel manufacturer and nickel metal producer and is now foraying into the new energy industry.

Founded in 2017, REPT Battero focuses on providing high-quality solutions for new energy vehicle power and intelligent power storage, with its main products being square aluminum-case blade lithium iron phosphate and ternary batteries for passenger cars, commercial vehicles, construction machinery, and energy storage.

In 2021, REPT Battero energy storage battery shipments ranked third in China. In June 2022, the power battery installation volume of REPT Battero (lithium iron phosphate) ranked fourth in China. In the first 10 months of 2022, REPT Battero ranked tenth in domestic power battery enterprises in the installation volume.

REPT Battero said that the company's technology takes a lead in the domestic industry, covering passenger cars, commercial vehicles (city buses, logistics vehicles, trucks, etc.), special vehicles, industrial vehicles, construction machinery, and equipment, ships, and other fields, as well as wind and new energy storage, grid power storage, back-up power, and other energy storage fields.

In 2021, REPT Battero successively invested in building production bases in Foshan and Wenzhou. The investment of the project in Wenzhou will be completed in 2026 and the project is expected to be commissioned in 2027, with a planned capacity of 100 GWh and a total planned investment of about 30 billion yuan ($4.3 billion). The total output value will exceed 100 billion yuan ($14.33 billion) after production, and the annual output value of the upstream and downstream supporting industrial parks is expected to reach 50 billion yuan ($7.16 billion) after production.