Chinese battery builder Contemporary Amperex Technology Limited (CATL) and Finnish contract manufacturer Valmet Automotive have formed a strategic partnership to develop electric automotive solutions. As part of the deal, CATL has taken a 22% ownership position in Valmet.
CATL currently offers NCM and LFP Li-ion chemistries in cells, modules and packs. The companies’ strategy is to engineer EV drivetrain solutions and supply battery packs to European automotive manufacturers.
“The electrical vehicle market is in a fundamental transformation and the growth expectations are significant,” said Valmet’s Chairman of the Board, Jarkko Sairanen. “CATL brings new resources and capabilities for Valmet Automotive to invest into this interesting market at the right moment. China is globally the largest and most important electric vehicle market today and CATL is recognized there as the top battery provider. They have profound skills and impressive knowledge that we can jointly bring to the benefit of the European automotive industry.”