CATL to provide batteries for Nissan Sylphy Zero Emission

Shanghai (Gasgoo)- Nissan announced at Auto China 2018 that it will introduce 20 electric models into the Chinese vehicle market over the next five years. Besides, the Japanese automaker's first locally-produced electric model will be the Sylphy Zero Emission, which will be powered by CATL's battery. A spokesman of Contemporary Amperex Technology Limited (CATL) also confirmed the information on May 2.

By far, CATL has provided batteries for a variety of automakers, such as BMW, BAIC BJEV, Geely, Changan and Dongfeng. Moreover, CATL also has established JV with SAIC. At the beginning of March, CATL gained the battery order of Volkswagen's MEB project.

During the period of Auto China 2018, CATL and Jaguar Land Rover signed a letter of intent on strategic cooperation to deepen cooperation in battery technology area of future vehicles as well as to jointly research and develop vehicle power battery technologies. On May 2, CATL has also signed a contract with German automaker Daimler for supplying electric car battery cells.

CATL posted revenue of RMB 19.997 billion in 2017, jumping more than 34% on an annual basis. Besides, the class-leading battery provider reported YoY sales growth of 31.4% to RMB 3.972 billion. Contemporarily, CATL is mulling over entering capital market. What’s more, CATL topped BYD in installed capacity of power battery, the largest battery maker in 2016, with installed capacity of power battery reaching 10.4GWh, taking up 30% of China’s total installed capacity of power battery in 2017.