Geely-backed energy storage firm Corun to invest $168m in Chinese new materials business

Geely-backed energy storage firm Corun to invest $168m in Chinese new materials business

Source: CHUTTERSNAP/Unsplash

Hunan Corun New Energy, a Chinese publicly-listed energy storage solutions provider, is planning to invest 1.12 billion yuan ($167.2 million) in a loss-making domestic new materials company as it bets on a business transition to focus on new-generation batteries.