China lithium-ion battery giant Contemporary Amperax Technology (CATL) has closed a funding round that attracted 19.7 billion yuan ($2.8 billion) from nine investors.
The round saw cash pour in from banking giants UBS (1.1 billion yuan, $157 million) and JPMorgan Chase & Co. (1.5 billion yuan, $215 million), and a subsidiary of Japanese automaker Honda Motor— according to Chinese media group Caixin.
The largest successful bid was Chinese investment company Hillhouse Capital Management, which contributed 10 billion yuan ($1.4 billion).
The nine investors obtained a 5.3% stake in CATL with a six-month lockup period.
Shenzhen-listed CATL raised the cash through a private share placement, according to an exchange filing on 17 July.
CATL supplies batteries to automakers including BMW Group and Volkswagen and in February announced a deal to supply batteries to electric vehicle maker Tesla at its new Gigafactory 3 plant in Shanghai.
Other bid from Goldman Sachs International and Merrill Lynch International failed due to lower bids.
