CATL Plans to Announce New European Joint Factory This Year
Contemporary Amperex Technology Co. Limited (CATL) intends to announce a plan for constructing a new joint factory with an original equipment manufacturer (OEM) in Europe within this year. This strategic update was disclosed by CATL co-chairman Pan Jian during the annual World Economic Forum in Davos. The announcement follows closely on the heels of the company's recent revelation regarding a $4.3 billion joint venture with Stellantis, aimed at producing up to 50 gigawatt-hours (GWh) of iron-based batteries for mid-range vehicles. Currently, CATL is expanding its European footprint significantly. Its second regional facility in Hungary is scheduled to commence production in the second half of 2025, with an initial annual capacity of 40 GWh. This follows the opening of its first European plant in Thuringia, Germany, in 2022. These developments underscore CATL's commitment to strengthening its supply chain presence in the European automotive market, catering to the growing demand for electric vehicle batteries through localized production capabilities and strategic partnerships with major global automakers.
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CATL Plans to Announce New European Joint Factory This Year
Contemporary Amperex Technology Co. Limited (CATL) intends to announce a plan for constructing a new joint factory with an original equipment manufacturer (OEM) in Europe within this year. This strategic update was disclosed by CATL co-chairman Pan Jian during the annual World Economic Forum in Davos. The announcement follows closely on the heels of the company's recent revelation regarding a $4.3 billion joint venture with Stellantis, aimed at producing up to 50 gigawatt-hours (GWh) of iron-based batteries for mid-range vehicles. Currently, CATL is expanding its European footprint significantly. Its second regional facility in Hungary is scheduled to commence production in the second half of 2025, with an initial annual capacity of 40 GWh. This follows the opening of its first European plant in Thuringia, Germany, in 2022. These developments underscore CATL's commitment to strengthening its supply chain presence in the European automotive market, catering to the growing demand for electric vehicle batteries through localized production capabilities and strategic partnerships with major global automakers.
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