EVPS

About EVPS

EVPS, also known as Anhui Levineng Power Battery Co., Ltd., is a developer and manufacturer of batteries, positioning itself within the electrical equipment industry. Founded in 2018, the company is headquartered in Chuzhou, China, with its establishment marking a significant investment in the region's economic and technological development zone. The company is backed by notable investors including Shanshan Corporation, Sequoia Capital, and the China Insurance Investment Fund, with a registered capital of 200 million USD and a total planned investment of 800 million USD. Since its inception, EVPS has secured $46.3 million in funding through various stages, including a later-stage venture round in May 2023.

The company's core business revolves around the research and manufacturing of lithium-ion power batteries and systems. Its product portfolio is diverse, featuring cylindrical and soft pack batteries designed to offer higher capacity and energy cost savings. Key offerings include individual battery cells, modules for various mobility applications, and complete battery packs for residential energy storage and telecom power backup. The primary product is the cylinder 26700 cell, which finds wide application in light electric vehicles, portable energy storage, and base station energy storage. The business serves a range of clients by providing batteries for passenger cars, two-wheelers, and forklifts. Its operations are vertically integrated within the clean technology and manufacturing sectors.

EVPS has established a significant manufacturing footprint with a facility covering 240,000 square meters. The company has built an annual capacity of 10GWh for its lithium-ion battery projects, with a current operational capacity of 4GWh. This production capability allowed EVPS to become a major cell supplier in the portable energy storage market, with revenue exceeding $143 million in 2022. The company is actively expanding, with a second phase plant under construction to increase production, focusing on prismatic cells and fast-charging products. EVPS holds an IATF16949 certification, underscoring its commitment to quality systems.