SVOLT, CZBank Financial Leasing to ally on innovation in financial service models

Shanghai (Gasgoo)- On Feb. 15, SVOLT Energy Technology Co., Ltd. ("SVOLT"), one of the main power battery suppliers in China, and Zhejiang Zheyin Financial Leasing Co., Ltd. (“CZB Financial Leasing”) signed a strategic cooperation agreement in Changzhou city to jointly explore innovative financial service models, according to a post on SVOLT’s WeChat account.

The latest move marks SVOLT’s another strategic cooperation with an important financial equity after joining hands with CMB Financial Leasing at the company’s 3rd Battery Day in last Dec.

Photo credit: SVOLT

Under the new agreement, the two parties will cooperate in such areas as financing leasing, operating leasing, and vendor leasing, and jointly integrate full-scenario service capabilities to promote the development of the lithium battery industry.

The strategic partnership will allow SVOLT and CZB Financial Leasing to team up on a financing leasing business with a scale of 2 billion yuan ($292.42 million). The duo will fully leverage the synergy effect of their businesses, and carry out close cooperation in various aspects such as fundraising and upstream & downstream resource integration.

SVOLT expects its asset liquidity to be improved, asset structure to be optimized, and product sales and payment collection to be boosted by virtue of CZB Financial Leasing’s advantages in financial leasing products and financial advisory services.