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CATL Considers More Factories Outside China – Caixin

The news came as CATL, based in Fujian province, has been trying to ease investor concerns about the recent sell-off of its stock


Shares plunged by 4.9% in Shenzhen on Tuesday following reports the world's biggest battery maker could spend up to $5 billion on facilities in Mexico and the US.
CATL is looking to supply batteries to Tesla and Ford in the US, according to recent reports. This photo shows the group's R+D centre in Ningde, Fujian province in late 2016. File photo: Reuters.

 

The world’s largest electric-vehicle battery maker, Contemporary Amperex Technology Limited (CATL), has announced that it is considering building more factories overseas, including in the US, to localise supplies of its products, Caixin reported.

The news came as CATL, based in eastern China’s Fujian province, has been trying to ease investor concerns about the recent sell-off of its stock, which as of Friday was down about 29% from a December peak.

Read the full report: Caixin

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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