Sunwoda Said to Seek EV Battery Unit Funding at $3 Billion Value

Sunwoda Electronic Co. is considering raising new funds for its electric-vehicle battery unit at a valuation of more than 20 billion yuan ($3.1 billion), according to people familiar with the matter.

The Shenzhen-listed company is looking to raise about 3 billion yuan to 4 billion yuan for the unit and has reached out to potential investors, said one of the people, who asked not to be identified as the information is private.

Considerations are at an early stage and details such as valuation and fundraising size could still change, the people said. A representative for Sunwoda didn’t immediately respond to ...