RT Advanced Materials, a Chinese producer of lithium-ion battery materials, has closed over 5 billion yuan (nearly $740 million) in a Series D round of financing from investors including Shang Qi Capital.
Shang Qi Capital, the private equity (PE) arm of Chinese state-owned automaker SAIC Motor, led the Series D round, in its latest effort to step up dealmaking in China’s new-generation automotive sector, the investor announced on Wednesday.
