Chinese battery maker Sunwoda settles lawsuit with Geely's battery unit

Reuters

Feb 06

Chinese battery maker Sunwoda settles lawsuit with <a href="https://laohu8.com/S/00175">Geely</a>'s battery unit

BEIJING, Feb 6 (Reuters) - A subsidiary of Chinese lithium-ion battery maker Sunwoda Electronic 300207.SZ has reached an agreement to settle a lawsuit brought against it by Viridi E-Mobility Technology, automaker Geely's 0175.HK battery unit, a stock exchange filing showed on Friday.

The settlement is expected to hit Sunwoda's 2025 net profit by between 500 million yuan ($72.06 million) and 800 million yuan, the company said in the filing.

($1 = 6.9387 Chinese yuan renminbi)

(Reporting by Zhang Yan, Yukun Zhang and Ryan WooEditing by David Goodman)

((yukun.zhang@thomsonreuters.com))

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The settlement is expected to hit Sunwoda's 2025 net profit by between 500 million yuan ($72.06 million) and 800 million yuan, the company said in the filing. ($1 = 6.9387 Chinese yuan renminbi) (Reporting by Zhang Yan, Yukun Zhang and Ryan WooEditing by David Goodman) ((yukun.zhang@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}