BYD’s battery IPO is coming
BYD plans to checklist its battery enterprise unit by 2022, based on the most recent information from China. The intention was already hinted at in March.
There are at the moment no particulars on the IPO, however BYD in all probability shall be very happy to promote a part of the battery unit and use the money for additional growth. The corporate already sells greater than 25,000 plug-in automobiles a month (not together with buses/vans) and views are good.
To launch an IPO, BYD might be inspired by current CATL‘s shares rally, because the worth greater than tripled since its IPO in June – “investor money gravitates towards the trade”.
BYD (24.59% owned by Buffett’s Berkshire Hathaway) is increasing its battery manufacturing capability, however with the fast-growing New Power Market in China, it’s by no means gonna be sufficient. The corporate can be seeking to construct a battery manufacturing facility in Europe.
Supply: Reuters, Bloomberg