REPT BATTERO EnergyPrefer Sterling in Google
Add sterlingcharts.com as a preferred source so our charts can appear with a preferred badge in Google Top Stories, AI Mode, and AI Overviews.
Register for a premium account to gain access to Sterling AI.
Get StartedThings you can ask Sterling:
| Period | Sales volume (GWh) | Year-end designed capacity (GWh) | Printed utilization (%) |
|---|---|---|---|
| FY 2020 | 1.55 | 4.2 | 50.3 |
| FY 2021 | 3.3 | 4.2 | 86.4 |
| FY 2022 | 16.61 | 35.2 | 73.9 |
| FY 2023 | 19.48 | 62 | |
| FY 2024 | 43.71 | 74 | |
| FY 2025 | 82.7 | 90 |
| Period | Single largest | Five largest |
|---|---|---|
| FY 2020 | 38.6 | 69.7 |
| FY 2021 | 24.5 | 51 |
| FY 2022 | 11.7 | 38.2 |
| FY 2023 | 14.3 | 36.8 |
| FY 2024 | 12.2 | 40.6 |
| FY 2025 | 10.3 | 34.2 |
Founded by Tsingshan Holding Group, the world's largest stainless-steel and ferronickel producer, leveraging vertical integration into Indonesian Morowali nickel feedstock. CEO Cao Yi previously at Wanxiang and CATL. Strategy: combine Tsingshan's mining / refining advantage on ESS-relevant LFP and high-nickel NMC chemistries.
Wenzhou super-factory commissioned: initial 16 GWh LFP cell production line. Tsingshan-funded greenfield site brings REPT from R&D-stage to volume cell maker; subsequent expansions at Liyang (Jiangsu) and Foshan add 30 GWh by 2024. Vertical-integration cost edge vs CATL on lithium / nickel feedstock estimated 5-8% per kWh.
Launched Wending 320 Ah LFP ESS cell: designed for utility-scale 5 MWh container deployments, 8000+ cycle life. Becomes the dominant ESS cell platform for PowerChina, China Three Gorges, and Sungrow integrators 2024-2025.
Listed on Hong Kong Stock Exchange: raised HK$1.7B IPO at HK$18.30/share, $4B implied valuation. First major battery IPO outside Mainland in 2024. Stock prices below issue most of Q1 2025 amid pricing pressure across Chinese battery sector.
Indonesia battery plant JV with Tsingshan announced: 10 GWh/yr nickel-rich NMC cells using direct Morowali nickel feedstock. First major battery cell plant in Southeast Asia outside CATL Indonesia. Targets Hyundai Indonesia and emerging ASEAN EV programs from 2027.
Won supply role for VinFast and major China ESS integrators (Sungrow, Trina Storage): total contracts over 30 GWh. Tsingshan vertical-integration cost edge translates into 8-12% per-Wh price advantage over CATL/BYD in ESS spot market.