Electric-Vehicle Battery Leader to Open German Plant
Contemporary Amperex Technology Co. Ltd. (CATL), a leading manufacturer of batteries for new-energy vehicles, signed a deal to open its first overseas factory in Germany, while German carmaker BMW increased its investment in China and its purchases from CATL.
CATL will build a research-and-development base in the state of Thuringia with an initial investment of 240 million euros ($282.2 million), according to a filing with the Shenzhen Stock Exchange on Monday. Company representatives met with German officials to confirm the deal the same day, on the sidelines of Chinese Premier Li Keqiang’s official visit to the country.
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