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.
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Contact reporter Lu Yutong (email@example.com)