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Chinese battery giant CATL aims to enter US market

Li-ion Batteries 18650 - Pouch Cell (Charged EVs)

Contemporary Amperex Technology Limited (CATL) is hardly a household name to US EV advocates, but that could change if the company’s plans come to fruition. CATL, which was profiled last week by Bloomberg, was founded in 2011 and now sells more cells to EV-makers in China than any other firm.

CATL hopes to raise $2 billion in an IPO this year, which it will use to build a battery factory in Huxi, China that will be second in size only to Tesla’s Nevada Gigafactory. The company hopes to have the new facility delivering cells as soon as 2020, making it the highest-volume maker of EV battery cells in the world.

 

Source: Bloomberg, Green Car Reports

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