CATL Makes Strides With Investments and Orders
William Clegg
/SOURCE : Yicai

(Yicai Global) July 26 -- It has been a bumper week of activity for China's biggest maker of batteries for electric cars with plans announced for a new factory, a joint venture and possibly a supply deal with German car giant BMW.

Contemporary Amperex Technology, better known as CATL, has piggybacked on a state visit to Germany by Chineses Premier Li Keqiang, firming up plans to invest 282 million dollars in a  battery production and R&D site in the state of Thuringia. Completion is slated for 2021.

The firm has also received a letter of intent from BMW to order batteries for its upcoming NEV models. Some media reports suggest the Germany giant could order to over 4 billion dollars worth of cells, though CATL was quick to point out that no concrete supply commitments had been made.

Finally, the company has announced plans to establish a joint venture with TA&A Ultra Clean Technology for the mass-production of cathode materials used in batteries. These three moves demonstrate that the company is in no mood to give up its position at the top of China's battery food chain.

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Keywords: CATL