Japanese electronic and materials company Maxell sells its lithium battery subsidiary in China.

Japanese electronic and material company Maxell announced on February 4th that it will sell its subsidiary, Wuxi Maxell Energy Co., Ltd., which produces lithium-ion batteries, to Zhejiang Xinghuan Holdings Co., Ltd., a wholly-owned subsidiary of Xinghe Energy. The transaction amount is approximately RMB 48.96 million, and the transfer of equity is expected to be completed within the month.