<div id="readability-page-1"><blockquote><ul><li>Sunwoda expects the impact on its 2025 net income to range from RMB 500 million ($72 million) to RMB 800 million.</li><li>Sunwoda and Vremt agreed to determine the cost of replacing power battery packs based on actual expenses and share the burden proportionally.</li></ul></blockquote><figure id="attachment_136328"><img src="https://imageproxy.pbkrs.com/https://cdn.cnevpost.com/wp-content/uploads/2026/02/2026020609200686.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1600" height="900" original-src="https://imageproxy.pbkrs.com/https://cdn.cnevpost.com/wp-content/uploads/2026/02/2026020609200686.jpg"/><figcaption id="caption-attachment-136328">(Sunwoda batteries showcased at the Shanghai auto show in April 2025. Image credit: CnEVPost)</figcaption></figure><p>Sunwoda (SHE: 300207) has settled a battery quality dispute with Geely subsidiary Vremt, resolving a major issue that had cast a shadow over the battery maker's outlook.</p><p>Sunwoda announced the progress in an exchange filing on Friday, stating Vremt will withdraw its lawsuit once the settlement agreement takes effect.</p><p>This is expected to impact Sunwoda's 2025 net income attributable to shareholders by RMB 500 million ($72 million) to RMB 800 million, according to the announcement.</p>    <div>        <p><span>Join us on </span>            Telegram            <span> or </span>            Google News        </p>    </div><p>Sunwoda disclosed in December last year that its subsidiary Sunwoda Electric Vehicle Battery Co Ltd (Sunwoda EVB) was sued by Vremt, which sought RMB 2.31 billion ($330 million) in damages.</p><p>Vremt, founded in 2013 and affiliated with Geely Holding Group, alleged that battery cells supplied by Sunwoda EVB between June 2021 and December 2023 had quality issues that caused losses.</p><p>Operating under Geely Holding's umbrella, Vremt is a subsidiary controlled by Zeekr Group and supplies batteries for some Zeekr models.</p><p>According to Friday's announcement, Sunwoda and Vremt agreed to determine the replacement costs for power battery packs based on actual expenses, with both parties sharing the incurred amount proportionally.</p><p>All processed battery packs will remain the property of Sunwoda.</p><p>Sunwoda ranks among China's largest battery manufacturers. Its power battery installations in China were 24.35 GWh in 2025, securing the sixth position with a 3.17% market share, according to data from the China Automotive Battery Innovation Alliance (CABIA).</p>                    <div id="china-battery-maker-share-2025-6985b2ef8ff3a-wrap">        <p>Share of top EV battery makers in China (2025)</p>                                                    </div>        <div>        <table>            <caption>Share of Top EV Battery Makers in China (2025)</caption>            <thead>                <tr>                    <th scope="col">Company</th>                    <th scope="col">Installations (GWh)</th>                    <th scope="col">Market share (%)</th>                    <th scope="col">Share vs 2024</th>                </tr>            </thead>            <tbody>                                <tr>                    <td>CATL</td>                    <td>333.57</td>                    <td>43.42%</td>                    <td>-1.67</td>                </tr>                                <tr>                    <td>BYD</td>                    <td>165.77</td>                    <td>21.58%</td>                    <td>-3.17</td>                </tr>                                <tr>                    <td>CALB</td>                    <td>53.61</td>                    <td>6.98%</td>                    <td>+0.29</td>                </tr>                                <tr>                    <td>Gotion High-tech</td>                    <td>43.44</td>                    <td>5.65%</td>                    <td>+1.07</td>                </tr>                                <tr>                    <td>Eve Energy</td>                    <td>31.61</td>                    <td>4.11%</td>                    <td>+0.69</td>                </tr>                                <tr>                    <td>Sunwoda</td>                    <td>24.35</td>                    <td>3.17%</td>                    <td>+0.28</td>                </tr>                                <tr>                    <td>Svolt Energy</td>                    <td>20.71</td>                    <td>2.70%</td>                    <td>-0.49</td>                </tr>                                <tr>                    <td>Rept Battero Energy</td>                    <td>19.50</td>                    <td>2.54%</td>                    <td>+0.31</td>                </tr>                                <tr>                    <td>Zenergy</td>                    <td>15.93</td>                    <td>2.07%</td>                    <td>+0.27</td>                </tr>                                <tr>                    <td>Energee</td>                    <td>15.08</td>                    <td>1.96%</td>                    <td>+0.26</td>                </tr>                                <tr>                    <td>LG Energy Solution</td>                    <td>13.75</td>                    <td>1.79%</td>                    <td>+0.39</td>                </tr>                                <tr>                    <td>Yinpai Battery</td>                    <td>6.29</td>                    <td>0.82%</td>                    <td>+0.41</td>                </tr>                                <tr>                    <td>Cornex</td>                    <td>5.39</td>                    <td>0.70%</td>                    <td>+0.56</td>                </tr>                                <tr>                    <td>Yuanhang Genlead</td>                    <td>4.30</td>                    <td>0.56%</td>                    <td>+0.54</td>                </tr>                                <tr>                    <td>Do-Fluoride</td>                    <td>4.30</td>                    <td>0.56%</td>                    <td>-0.01</td>                </tr>                            </tbody>        </table>    </div>            <p>The lawsuit comes as Sunwoda advances its efforts to list in Hong Kong.</p><p>It submitted its Hong Kong listing application in July 2025 but failed to list within six months, resulting in the application materials expiring.</p><p>Last month, Sunwoda resubmitted the application, stating it is steadily progressing with preparatory work.</p>    <div>        <div>            <p><img width="768" height="432" src="https://imageproxy.pbkrs.com/https://cdn.cnevpost.com/wp-content/uploads/2026/02/2026020404041315-768x432.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://cdn.cnevpost.com/wp-content/uploads/2026/02/2026020404041315-768x432.jpg"/>                            </p>        </div>        <div>            <p>Global EV battery market share in 2025: CATL 39.2%, BYD 16.4%</p>            <p>CATL and BYD's combined EV battery installations in 2025 came in at 659.5 GWh, accounting for 55.6% of the global total.</p>                    </div>    </div>    <p>($1 = RMB 6.9394)</p>                               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<p>Sunwoda has settled a $330 million battery quality lawsuit with Geely's subsidiary Vremt, which alleged quality issues with battery cells supplied between June 2021 and December 2023. The settlement is expected to impact Sunwoda's 2025 net income by RMB 500 million ($72 million) to RMB 800 million. Both companies will share the costs of replacing the battery packs proportionally. Sunwoda is also in the process of resubmitting its Hong Kong listing application after its initial attempt expired.</p>

- Sunwoda has reached a settlement with Geely subsidiary Vremt, resolving a battery quality dispute that previously threatened its financial outlook.  
- The settlement is projected to impact Sunwoda's 2025 net income by RMB 500 million ($72 million) to RMB 800 million and will establish a cost-sharing approach for replacing faulty battery packs.  
- Additionally, Sunwoda, ranked sixth in China's battery market with a 3.17% share, has resubmitted its application for a Hong Kong listing, which had expired six months after the initial submission.

Sunwoda, Geely unit settle $330 million battery quality lawsuit