Chinese company CATL, the world's largest manufacturer of batteries for electric vehicles, intends to invest about $ 2.09 billion in the construction of a new type of lithium battery plant.
Last week, the manufacturer entered into an agreement to build a plant with the city of Yichun in China's Jiangxi province. The plant is expected to produce batteries for electric vehicles. The design capacity of the enterprise and the date of the start of construction were not disclosed.
If you include joint ventures, CATL plans to build or expand about 20 factories domestically and one in Germany, according to Chinese brokerage SooChow Securities. The company's total production capacity is projected to reach approximately 600 GWh in 2025, five times more than in 2020.