Chinese new energy solutions provider SVOLT closes $541m Series A round Tobias Hans, Minister President of Saarland, Germany said in a press conference on November 17, 2020 that SVOLT Energy Technology plans to build two battery production factories, at a combined cost of about 2 billion euros ($2.4 billion), in Saarland. Source: SVOLT Energy Technology February 26, 2021 SVOLT Energy Technology, a Chinese developer of electric vehicle (EV) batteries and energy storage solutions, has pocketed a total of 3.5 billion yuan ($540.8 million) in a Series A round of financing. The new round was led by Bank of China Group Investment, a Hong Kong-incorporated direct investment arm of Bank of China (BOC), and private equity (PE) firm CMG-SDIC Fund Management.