Sunwoda Electric's spin-off company, Sunwoda Electric Vehicle Battery, has received a lot of funding from Chinese carmakers and accounted for 7.8% of the parent company's revenue in 2021. After completing its Series A funding, the company market cap is valued at CNY 30B. The company provides cells, modules, BMS, etc. and was one of the top 10 EV battery companies in the world in 2021. In 2022, it is one of the top 10 companies with the fastest growing installed capacity. Production capacity is mainly in China.