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CATL to plow up to RMB10 billion in Yibin power battery production base

Monika From Gasgoo| September 26 , 2019 10:04 BJT

Shanghai (Gasgoo)- CATL plans to invest no more than RMB10 billion in a battery production base in Yibin, Sichuan province, the Chinese EV battery giant announced on September 26.

The project will be conducted under a strategic partnership forged on Sept. 25 between CATL and Yibin municipal government, according to a post on CATL's WeChat account.

CATL to plow up to RMB10 billion in Yibin power battery production base

(Photo source: CATL)

Under the partnership, CATL is to set up a power battery manufacturing base in Yibin and “gradually build a complete NEV battery industrial chain,” said the battery supplier, “Besides, both parties will make joint efforts to construct a NEV industrial base in Western China, taking Sichuan as foothold, serving Southwest China and finally influencing the whole country.”

According to the latest announcement, the funds should be raised by the EV manufacturer itself. Covering a total area of 1,000 mu (around 666,000 square meters), the Yinbin base will be constructed in two phases.

CATL said it places strong emphasis on the NEV development of Sichuan Province which boasts rich resources, huge market potential, solid industrial foundation and outstanding science and education strength. Last year, it started cooperation with Yinbin's local government and Suzhou’s Canmax on a joint venture focusing on R&D, production and sale of lithium battery materials and products.

CATL to plow up to RMB10 billion in Yibin power battery production base

(Photo source: Daimler)

The collaboration comes on the heel of a transaction agreed by CATL and Daimler Trucks & Buses on September 18. According to Daimler, the Fujian-based battery manufacturer would supply lithium-ion battery cell modules for a wide range of Daimler Trucks & Buses' global electric truck portfolio to be introduced in markets from 2021 onwards, including the Mercedes-Benz eActros, the Freightliner eCascadia and the Freightliner eM2.

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