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By Zheng Lichun and Lu Yutong / Aug 06, 2020 04:01 PM / Business & Tech

Photo: VCG

Photo: VCG

Chinese electric vehicle battery maker Contemporary Amperex Technology Co., Ltd. (CATL) is going to supply batteries for the luxury electric vehicle developed by its partner Mercedes-Benz.

CATL, which reached a partnership with the German company in 2018, will supply batteries to fit the electric luxury sedan Mercedes-Benz EQS that are set to be delivered next year, according to a statement by the carmaker Wednesday.

The battery manufacturer is growing into an integral part of the global supply chain for electric vehicles. It partnered with Tesla in May to co-develop a low-cost, long-life battery for the Shanghai-built Model 3 sedan, and raised nearly 19.7 billion yuan ($2.8 billion) through a private share placement last month, with nearly a third of the total coming from Swiss financial titan UBS, American conglomerate JPMorgan Chase and Japanese vehicle brand Honda Motor Co. Ltd.

Read the full story on Caixin Global later.

Contact reporter Lu Yutong (yutonglu@caixin.com)


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