Following Tesla’s deal, CATL will invest up to USD 3.7 billion to quadruple its production capacity, in a move to further extend its dominance in the EV battery market.
Headquartered in Ningde in eastern China, CATL also supplies several domestic automakers including SAIC and Nio, as well as other global brands such as BWM, Volkswagen, and Daimler.
How this Chinese firm became the world’s biggest EV battery manufacturer in less than 10 years? Find it out in our third episode of China’s Tesla Challengers, a series that looks at the country’s leading EV companies.
Check out our other episodes:
Episode one: Will Nio live up to its hype?
Episode two: These Chinese EV makers are Tesla’s biggest problem
Episode four: Will real estate giant Evergrande succeed in the EV industry?
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