Chinese language funding in Europe shifts to greenfield battery initiatives, record says

BERLIN — Chinese language funding in Europe is transferring from mergers and acquisitions to greenfield initiatives principally in battery manufacturing for electrical cars, consistent with 2022 information analyzed through free analysis suppliers MERICS and Rhodium Workforce.

Greenfield funding made up 57 p.c of general overseas direct funding through China in Europe in 2022, overtaking mergers and acquisitions for the primary date since 2008, consistent with the record exempt on Tuesday.

Tencent’s acquisition of Sumo Virtual used to be the one transaction significance over 1 billion euros ($1.10 billion), with maximum alternative primary investments in battery vegetation through corporations comparable to CATL, Envision AESC, and SVOLT.

“We are witnessing a major shift in how Chinese companies invest in Europe… Chinese firms have become major players in Europe’s green transition,” Agatha Kratz, director of the Rhodium Workforce, mentioned within the remark.