Chinese manufacturer of batteries Contemporary Amperex Technology Limited (CATL) and Zhejiang Jirun Automobile Company Limited (Zhejiang Jirun), a subsidiary of Zhejiang Geely Holding Group, signed an agreement on the financing of the joint venture, which is engaged in the production and sales of battery cells and battery packs for electric cars. CATL will own a majority stake of 51%.
In addition to Geely CATL has also entered into cooperation agreements with other automakers, such as SAIC Motor, Dongfeng Motor, GAC Group, Jiangling Motors, which makes it a Chinese manufacturer of batteries that has the most joint ventures with the automakers.
SAIC Motor was the first company that created a joint venture with CATL. In 2017, they founded two companies: CATL-SAIC Motor Power Battery for the design, production and sales of lithium-ion batteries (with a registered capital of 2 billion yuan); and SAIC Motor-CATL Power Battery System for development, production and sale of battery systems (with a registered capital of 300 million yuan).
July 4, 2018, was commissioned a 50/50 joint venture between Dongfeng Motor and CATL, dubbed Dongfeng-CATL (Wuhan) Battery System, which specializiruetsya on developing, producing and selling rechargeable batteries for electric cars. The company will complete the construction of three production lines in 2019 and expected to produce 192 000 sets of the battery cells and a total capacity of 9.6 GW * h of annual generation by 2020.
In July 2018 CATL and the GAC Group have reached an agreement to establish two joint ventures called CATL-GAC and GAC Power Battery-Power Battery CATL System, specializing in the production of battery cells and supplying the battery systems. The ceremony of laying the first stone of the industrial base took place on 23 December 2018 and it is expected that the base will be put into operation next year.
In addition to joint ventures with domestic automakers, CATL also last year initiated a partnership with Volkswagen, Daimler and BMW, supplying them with batteries.
CATL is really popular that many manufacturers intend to work. Because the manufacturers are committed to electric mobility, battery is crucial and necessary for companies to produce electric vehicles. However, independent research and development of batteries involve extremely high costs and numerous technological barriers. Thus, the Association with the manufacturers of batteries is a good option for car manufacturers to ensure quality and cost control. In addition, collaboration with CATL will become an attractive point to promote the brand of company in China.
CATL is in the lead from August to November 2018, releasing battery with a monthly installed capacity of 1.47 GW⋅h, of 2.45 GW⋅h, 2,49 GW⋅h and 3.4 GW⋅h
Recall, the company CATL is a world leader in the production of batteries for electric vehicles.