CATL teams up with Sichuan government to build world-class lithium battery business cluster

Shanghai (Gasgoo)- CATL announced on September 19 an all-around strategic cooperation it formed with Sichuan provincial government as both parties are ambitious to co-build a world-class industry cluster of lithium battery.

Under the agreement, CATL and Sichuan will cement their collaboration in the construction of full lithium battery-related industrial chain to seize the significant opportunity of the fast growth in new energy vehicle (NEV) application.

(Photo source: CATL)

In the future, CATL will deploy its production and R&D bases in such cities within Sichuan as Yibin as part of efforts to perfect its full industrial system of lithium battery. The supplier and the government are going to proactively push ahead with the electrification and intelligence development for Sichuan.

Besides, two parties plan to carry out the cooperation in the next-generation battery, new energy vehicle (NEV), advanced energy storage, mobile connected energy management and other areas, jointly constructing a comprehensive base for new energy industry.

The collaboration between CATL and Sichuan province can date back to 2018. Currently, the Chinese power battery giant has signed up for the three lithium battery projects in Yibin, including Sichuan Geely (CATL's wholly-owned subsidiary), CATL-Geely (a joint venture co-built by CATL and Geely) and Yibin Tianyi.

The Ningde-based battery supplier and automaker Chongqing Changan Automobile Co., Ltd. inked an agreement earlier this month for the long-term in-depth strategic cooperation on intelligent-connected EVs and smart energy ecosystem, CATL announced on September 9 via its WeChat account. 

As for financing progress, CATL announced on Sept. 12 a successful issuance of $1.5 billion ($221,598,450) in senior dual-tranche fixed rate bonds in overseas market, which is regarded as part of efforts to improve its global deployment.