Sunwoda Unit Plans Capital Raise with Li Auto Investing RMB 2.65 Billion for 8.79% Stake

Sunwoda announced on September 4 that its subsidiary Sunwoda Power Technology Co. , Ltd. plans to raise capital through a share issuance, bringing in Beijing Li Auto Co. as an investor. Li Auto intends to invest RMB 2.65 billion to subscribe for RMB 1.4 billion of newly increased registered capital in Sunwoda Power, corresponding to an 8.79% stake after the capital increase is completed. Following the transaction, Sunwoda's shareholding in Sunwoda Power will decrease from 26.38% to 24.06%. Combined with its earlier investment, Li Auto-related entities will indirectly hold a total of 11.17% of Sunwoda Power after the deal closes.

Li Auto's cooperation with Sunwoda dates back to 2017, when Sunwoda became an early power battery supplier for Li Auto, with the two sides engaging in routine collaboration on battery delivery, manufacturing production, and quality control. In 2022, Li Auto invested RMB 400 million in Sunwoda Power through an affiliated venture capital company, completing its first round of capital-level engagement. In 2025, the two parties established Shandong Li Auto Battery Co. with a 50:50 shareholding ratio, primarily producing Li Auto's self-developed power batteries. After this capital increase, Li Auto will be responsible for product definition, performance indicator formulation, quality standard control, and core technology iteration of power batteries, while Sunwoda Power will undertake the engineering implementation and large-scale production of customized battery solutions.

On the same day it received the investment from Li Auto, Sunwoda announced that it had officially become a core strategic partner for Xiaomi's Longjia battery, jointly participating with CALB in the deployment of this battery system. The Xiaomi Longjia battery is a customized power battery system solution for vehicles and will be installed on Xiaomi's Pengcheng series models.