China’s CATL signs multi-billion-dollar battery supply deal with Volvo
CATL is really booming in recent years
BEIJING (Reuters) – China’s top battery maker, Contemporary Amperex Technology Co Ltd (CATL), said it had signed a multi-billion dollar battery supply deal with Volvo Car Group.
The deal to supply lithium ion batteries will support all of Volvo’s models on current and next-generation vehicle platforms, the Ningde-based company said in a statement on Wednesday.
TURBOII030
Already supplies BMW
Volvo Car Group has inked a massive multi-billion dollar supply deal with the Chinese battery manufacturer, CATL, and Korea’s LG Chem to supply its planned fleet of electric vehicles. The lithium ion batteries from both suppliers will power the development of Volvo Cars’ electrification strategy for its own brand and the company’s Polestar joint venture with Chinese auto manufacturer Geely. Deals with the two companies cover the global supply of battery modules for all models on the upcoming SPA2 and CMA modular vehicle platforms, Volvo said in a statement. Back in 2017, Volvo . committed that all of its new… Read more »
Ningde, also known as Mindong, is a prefecture-level city located along the northeastern coast of Fujian province, People’s Republic of China. It borders the provincial capital of Fuzhou to the south, Wenzhou to the north, and Nanping to the west.