SK on Revenue, Valuation, Funding & Investors

SVOLT is a battery maker based in Jintan District, Changzhou, Jiangsu, that develops and produces cells, modules and packs for electric vehicles and a range of energy storage systems. Great Wall Motor set it up in February 2018 as a wholly owned subsidiary, and outside investors including CMG-SDIC Capital, Bank of China Group Investment, IDG Capital and Xiaomi bought in through financing rounds in 2020 and 2021 that raised more than 20 billion yuan. The company reports 14 production sites, three research centres, more than 13,000 employees and 5.2 billion yuan of research spending between 2019 and 2025. Great Wall Motor accounted for 98.68 percent of its revenue in 2020. SVOLT filed for a listing on the Shanghai STAR Market in 2022, invested in the recycling company Shunhua Lithium that year, and sold a 40 percent stake in its Thai unit to Banpu NEXT in 2023.

Sunwoda Electric Vehicle Battery is a Chinese maker of power batteries for electric and hybrid vehicles and a subsidiary of Shenzhen-listed Sunwoda Electronic. It produces battery cells, modules, packs and battery management systems for battery electric, hybrid and plug-in hybrid vehicles, and supplies automakers such as Dongfeng, Geely, Volkswagen, Volvo Cars and Li Auto. Its power battery business reported revenue of RMB 2.93 billion in 2021 and RMB 12.7 billion in 2022, and it ranked among the top ten power battery makers in China by installed capacity. Outside investors include Shenzhen Capital Group, Meituan, Broad Vision Funds, Li Auto and Xpeng affiliates and several state-linked funds, which together diluted the parent below 40 percent in 2022. The company started a process in October 2023 to list separately on the Shanghai market.

LG Energy Solution is the third-largest battery maker for electric vehicles with about 11% global share in 2024, according to SNE Research. The EV battery segment is the largest revenue contributor, which accounted for more than 60% of total revenue in 2024. LGES also manufactures batteries for mobility, mobile phones, laptops, electrical devices, and energy storage systems. The company was spun off from LG Chem’s battery division in December 2020 and listed on the Korea Exchange in January 2022. It has global manufacturing facilities in Korea, China, Poland, and the United States. Key customers include General Motors, Tesla, Volkswagen, Hyundai, and Stellantis.

Farasis Energy is a global lithium-ion battery manufacturer producing power systems for electric vehicles, energy storage grids, and commercial applications. The company operates production facilities in China and the United States with partnerships including BMW for automotive battery supplies. Farasis Energy supplies high-energy-density cells addressing transportation electrification and renewable grid integration needs.

Tata Motors Ltd is an automobile manufacturer, offering a diverse portfolio of smarter, integrated and safer mobility solutions. It designs, manufactures and sells a wide range of automotive vehicles. The company also manufactures engines for industrial applications. Its operating segments consist of: a) Automotive: The Automotive segment consists of four reportable sub-segments: Tata Commercial Vehicles, Tata Passenger Vehicles, Jaguar Land Rover and Vehicle Financing. Other operating segments do not meet the quantitative thresholds for disclosure and have been aggregated. b) Others: Others consist of IT services and Insurance Broking services. The majority of revenue is generated from the Tata Commercial Vehicles sub-segment of the Automotive segment.

GAC Aion is a Guangzhou-headquartered electric vehicle manufacturer established in 2017 as a sub-brand of Guangzhou Automobile Group. The marque produces passenger EVs including the Aion S sedan, Aion LX SUV, and Hyper series performance models while offering battery swapping stations and charging infrastructure services across China.

First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world’s largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.

Yantai Jereh Oilfield Services Group Co Ltd is a China-based company engaged in the manufacturing of oilfield equipment and the provision of oilfield services. It is engaged in drilling equipment and oil & gas field engineering equipment manufacturing, equipment maintenance and accessories sales, oil field engineering technology services, as well as oil & gas field construction services. The company conducts its business within domestic and overseas markets.

Enilive is a Rome-headquartered subsidiary of Eni focused on sustainable mobility services. The company delivers integrated low-carbon solutions including biomethane production facilities, car-sharing fleets, and refueling stations for alternative fuels. Enilive operates across Italy with a network supporting electric vehicle charging and hydrogen infrastructure, advancing decarbonization in transportation through public-private partnerships.

TBEA Co Ltd is a China-based company that offers energy business solutions to service providers. The company distributes electric power transmission and transformation equipment. It provides solutions such as green technology, smart environmental protection, energy equipment for turnkey projects, and system solutions that range from surveying to design, construction, installation, and commissioning, as well as integration of training, operation, and maintenance. It also promotes the construction of green and efficient power grids. The company has a business presence in China and other countries.

Sichuan Chuantou Energy Co Ltd is engaged in the clean energy business. The company operates its businesses through four segments. The Electric Power Business segment focuses on generating electricity through hydropower, wind energy, and photovoltaic sources. The Investment Business segment is involved in equity participation in hydropower facilities, along with activities in asset and investment management. The Manufacturing Industry segment covers production areas such as railway telecontrol systems, construction materials, and automation control equipment for both industrial and power applications. The Service Industry segment encompasses property management offerings and tourism development initiatives.

Base Power is a residential energy provider offering backup battery systems and fixed-rate electricity plans in Texas. Dallas-headquartered, its home batteries supply up to three days of whole-home power during outages with automatic failover. Plans feature transparent pricing from 9 cents per kWh plus delivery and membership fees, serving deregulated market customers seeking cost predictability.

LONGi Green Energy Technology is one of the largest integrated solar company in the world. It produced 106 gigawatts of solar silicon wafers and 70 GW of solar modules in 2024. Solar silicon wafer and solar module contributed 10% and 80% of revenue in 2024, respectively. LONGi’s products are sold in more than 150 countries and regions.

Siemens Energy India Ltd is engaged in energy sector. The company offers fully integrated products, solutions and services across the energy value chain of oil and gas production, power generation and transmission for various customers such as utilities, independent power producers and engineering, procurement and construction (EPC) companies comprising of the entire part of the business.

Tata Motors Passenger Vehicles Ltd Formerly Tata Motors Ltd is an automobile manufacturing company. It designs, manufactures, and sells a wide range of automotive vehicles. The company also manufactures engines for industrial applications, aggregates such as axles and transmissions for commercial vehicles, and factory automation equipment, and provides information technology services. Its operating segments include Automotive and Others. The Automotive segment, which derives key revenue, consists of four reportable sub-segments: Tata Commercial Vehicles, Tata Passenger Vehicles, Jaguar Land Rover, and Vehicle Financing. Geographically, it generates maximum revenue from India, and the rest from the United States of America, United Kingdom, Rest of Europe, China, and the Rest of the World.

Mahindra Electric Automobile is a Bengaluru-based developer of four-wheeler electric passenger vehicles. The company produces models like the eVerito sedan tailored for urban commuting and fleet operations in India. It focuses on affordable electric mobility with lithium-ion battery technology and partners with city governments for electric taxi services. Mahindra Electric Automobile integrates fast-charging infrastructure and maintains a dedicated manufacturing facility in Bengaluru.

Tata Passenger Electric Mobility Ltd is a Pune-based subsidiary of Tata Motors manufacturing electric passenger vehicles including the Nexon EV, Tigor EV, and Tiago EV. The company operates a 350-acre facility in Sanand, Gujarat, producing over 100,000 units annually with battery assembly and fast-charging infrastructure. TPEML partners with Tata Power for nationwide charging networks and exports to Europe and Southeast Asia.

Octopus Energy Group is a London-based energy and technology group and the largest household energy supplier in the United Kingdom. It supplies electricity and gas under the Octopus Energy brand, sells and installs heat pumps, solar panels and batteries, leases electric vehicles, and manages renewable generation assets through Octopus Energy Generation. The group incubated Kraken, the utility operating system licensed to E.ON, EDF, Origin Energy and others, which raised about USD 1bn at a USD 8.65bn valuation in December 2025 ahead of a demerger after which Octopus keeps a 13.7% stake. In the year to April 2025 the group reported revenue of GBP 13.7bn and underlying EBITDA of GBP 90m, and it served about 10 million customers globally. It earns mainly from energy supply, with further income from installations, technology licensing and fund management. Its shareholders include Octopus Capital, Origin Energy, Tokyo Gas, Generation Investment Management and CPP Investments. The company was founded in London in 2015 by Greg Jackson.