Shanghai (Gasgoo)- CATL and SAIC Motor last week laid the foundation stone for the second phase of the power battery-related base managed by their two joint ventures, marking a new push for the cooperation between the Chinese battery titan and automobile giant.
Photo credit: CATL
According to the CATL, the facility is located in Liyang, Jiangsu province and involves a total investment of 12 billion yuan ($1.855 billion). It is expected to start operation in 2024 and have a number of production lines for power batteries and battery packs.
In 2017, CATL and SAIC Motor formed two joint ventures dubbed CATL-SAIC Motor Power Battery Co.,Ltd. (CATL-SAIC) and SAIC Motor-CATL Power Battery System Co.,Ltd (SAIC-CATL) respectively. The former, with a registered capital of 2 billion ($309.238 million), was built to develop, produce and sell lithium ion batteries, while the latter, involving a registered capital of 300 million yuan ($46.385 million) was launched to develop, produce and sell battery systems.
While the aforesaid project was inaugurated, SAIC-CATL held the offline ceremony for its 100,000th battery pack on the same day.
Aside from SAIC Motor, CATL also founded joint ventures with such Chinese OEMs as FAW Group, Geely, GAC Group, BAIC Group, and Dongfeng Motor.
Among global automakers who have businesses in China, Honda joined hands with CATL for a strategic partnership. Both companies inked an agreement in July 10, 2020 form a comprehensive strategic alliance on new energy vehicle batteries. This agreement enables them to begin discussions on a broad range of areas including joint development, stable supply, and the recycling and reuse of batteries.
