Battery cell manufacturer CATL has announced plans to invest 39 billion yuan (around 5 billion euros) in expanding its production capacities in China. This is to expand production capacity by 130 GWh at three plants.
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CATL has begun construction of an innovation laboratory at its headquarters in Ningde in the eastern Chinese province of Fujian. The laboratory, named 21C Lab, will focus on the development of next-generation batteries and new energy conversion systems.
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China’s battery powerhouse CATL has succeeded instantly on the stock exchange. Shares in Contemporary Amperex Technology Ltd soared 44 percent on their debut in Shenzhen as investors seek to embrace clean energy.
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SAIC has begun construction on their fourth vehicle factory in China. The new production site will be built in the port city of Ningde and will begin operations in 2019, producing electrified vehicles for Roewe and MG.
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