Facebook

China's battery giant CATL to invest $4.5b in expansion


(Xinhua) Contemporary Amperex Technology Co Ltd (CATL), China’s largest automotive lithium-ion battery maker, announced Tuesday that it plans to invest up to 29 billion yuan ($4.5 billion) in capacity expansion.


In a filing with the Shenzhen Stock Exchange, CATL said it will invest up to 12 billion yuan in a production base for automotive and energy-storage batteries in the city of Zhaoqing in South China’s Guangdong province.


It will also invest up to 12 billion yuan in the fifth and sixth phases of an automotive-battery production base in the city of Yibin in southwestern Sichuan province.


In addition, a majority-owned subsidiary will invest up to 5 billion yuan in an expansion project of an automotive-battery production line in Xiapu county of Ningde, a city in East China’s Fujian province, CATL said.


Source: Xinhua | Updated: 2021-02-03 16:42 

China's battery giant CATL to invest $4.5b in expansion China's battery giant CATL to invest $4.5b in expansion Reviewed by TechCO on 2/04/2021 Rating: 5

No comments:

ads 728x90 B
Powered by Blogger.