Hithium closes $622 million funding round

Hithium, a Chinese manufacturer of lithium-ion stationary energy storage systems, has announced a Series C funding round consisting of more than CNY 4.5 billion ($622 million). It will primarily use the funds to expand production capacity, procure advanced equipment, and conduct R&D.Xiamen-based battery manufacturer Hithium is amassing funding and expanding production capacities at a fast pace. In a Series C funding round announced this week, the Chinese unicorn (an unlisted company valued at or above $1 billion) said that it has raised more than CNY 4.5 billion. The company will primarily use ...

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