Chinese automotive supplier HUAYU Automotive Systems (HASCO) announced the acquisition of a 49-percent stake in Shanghai SAIC QingTao Energy Technology Co., Ltd., from SAIC Motor for the equivalent of approximately 29 million US dollars. This makes HASCO a direct shareholder in a company specializing in developing semi-solid and solid-state batteries.
Majority ratios
HASCO itself is the parts and supplier subsidiary of SAIC Motor, which holds approximately 58 percent of the company. Shanghai SAIC QingTao Energy Technology Co., Ltd. was founded in November 2023 as a joint venture by SAIC Motor and QingTao Energy with a registered capital of the equivalent to approximately 140 million US dollars. QingTao continues to hold a majority stake of 51 percent, while SAIC Motor held the remaining 49 percent prior to the transaction.
Semi-solid-state batteries already in use
The joint venture operates manufacturing sites in Wuhai, Chengdu, Yichun, Kunshan, and Taizhou. According to the company, its activities range from materials research to cell production and module manufacturing. Its semi-solid-state batteries are currently used in SAIC Motorʼs production vehicles, including the new MG4.
