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BYD ‘on course for batteries unit IPO’

Mon, 12/17/2018 - 00:00 -- John Shepherd
Wang Chuanfu

Chinese automotive manufacturer BYD plans to list its batteries business within the next four years to fund expansion plans, founder and chairman Wang Chuanfu has said.

Wang (pictured) told Bloomberg the company, which is backed by Warren Buffett’s Berkshire Hathaway group, is eyeing an initial public offering for its battery storage business by the end of 2022.

Wang said the company is in the process of spinning off its vehicle-battery operations into a separate firm before listing. He said the listing would take place by the end of 2022— but that the Shenzhen-based company had yet to decide where the shares would be traded.

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