Tianjin Lishen raises funds to expand battery capacity plan

Qin Xingcai, president of Tianjin Lishen, said that the company is considering listing in Shanghai or Shenzhen, and by 2020, the annual production capacity will be expanded to 20 GWh.

A complete local supply chain, a large electric vehicle market and favorable government policies will continue to support the demand for automotive batteries.

Motorola's cancellation of orders led Tianjin Lishen to cancel its initial public offering in 2007. After nearly a decade, the Chinese state-owned battery manufacturer will once again seek a listing, and the listing will be used to produce more electric vehicle batteries.

Tianjin Lishen is called Tianjin Lishen Battery Co., Ltd. Qin Xingcai, president of Tianjin Lishen, said that the company is considering listing in Shanghai or Shenzhen, and by 2020, the annual production capacity will be expanded to 20 GWh. This figure exceeds China's estimated total battery consumption in 2015 by approximately 18%. Qin Xingcai said that as a listed company, Tianjin Lishen will have a more favorable position to attract and retain talents, and compete with companies such as Samsung SDI and Matsushita Electric on the global stage.

Qin Xingcai was interviewed at his office in Tianjin this month, mentioning that the company had a difficult ten-year survival, saying that the company is now more mature and the risk is lower due to the company's automotive battery business growth. He said that a complete local supply chain, a huge electric vehicle market and favorable government policies will continue to support the demand for automotive batteries.