Tesla LFP battery supplier sets up new technology in Shanghai
Chinese battery manufacturer Contemporary Amperex Technology Co. Limited, more commonly known as CATL, has invested RMB 100 million ($A21 million) to establish a new automotive science and technology company based in Shanghai.
CATL – well known for supplying lithium-iron-phosphate (LFP) battery cells to companies like Tesla and Nio – established the CATL (Shanghai) New Energy Technology company on Tuesday, with registered capital of RMB 100 million, according to Chinese business information platform Qichacha.
Formed back in 2011 and based in the coastal Chinese city of Ningde, CATL is now the world’s largest electric vehicle battery manufacturer and supplies carmakers including Tesla, BMW, Mercedes-Benz, and Nio.
According to power analysts Wood Mackenzie, “CATL is leading the global lithium-ion cell production now, holding 490 GWh of total lithium-ion cell…