Freshfields Bruckhaus Deringer and Fangda Partners have advised Chinese lithium battery manufacturer REPT BATTERO Energy on its $1 billion IPO in Hong Kong, with Allen & Overy and Commerce & Finance Law Offices acting for underwriters.

This is the second-largest fundraise by a Chinese EV maker in Hong Kong after CALB Co raised $1.3 billion last year.

REPT is building next-generation zero-carbon factories combining intelligent energy management and green electricity to achieve carbon reduction targets, and proceeds from the IPO will be used in the projects, the company said in a statement.