CATL FAW Group Set Up Battery Joint Venture

first_img CATL Delivered China’s Largest 100 MWh Battery Energy Storage CATL Signs Battery Venture Deal With Volvo Owner Geely The joint venture was founded at the end of January, involving a registered capital of RMB2 billion. CATL and FAW Group hold 51% and 49% stake in CATL-FAW with respective contribution of RMB1.02 billion and RMB980 million. The new joint venture’s business scope covers the development, production and sale of lithium ion battery, power battery, energy storage battery with ultra-large capacity and battery system as well as relevant after-sale services and technology consultation.Qu Tao, a board member of Dongfeng-CATL (Wuhan) Battery System Co.,Ltd, take the posts of chairman and general manager of CATL-FAW.CATL will invest 240 million euro in a battery factory near Erfurt, eastern Germany, said to start production in 2021 with an initial capacity of 14GWh per hour. The battery maker recently disclosed that capacity for its German factory will be expanded to 60GWh by 2026, according to recent reports.Up until now, CATL has built joint ventures with Geely, SAIC Motor, GAC Group and Dongfeng Motor. It also formed partnerships with such global automakers as BMW, Daimler, Groupe PSA, Volvo and Jaguar Land Rover, etc.Source: Gasgoo CATL just keeps on growing.China-based power battery provider Contemporary Amperex Technology Limited (CATL) and the state-owned carmaker FAW Group have set up a joint venture dubbed CATL-FAW Power Battery Company (CATL-FAW), according to tianyancha.com, a Chinese data search platform.More CATL News Author Liberty Access TechnologiesPosted on March 3, 2019Categories Electric Vehicle News China’s CATL & Honda Sign Massive EV Battery Deal Source: Electric Vehicle Newslast_img

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>