CATL Secures Three-Year Supply Deal With Dongfeng Motor Unit

What’s new: Contemporary Amperex Technology Co. Ltd. (CATL) (300750.SZ) has secured a three-year contract as the preferred supplier of Dongfeng Motor Group Co. Ltd.’s electric off-road vehicle subsidiary, as the battery giant fights to keep market share in the competitive Chinese market.

CATL will supply the M Hero brand with its power cell products and related services until 2026. The companies will also jointly develop new types of batteries and explore the application of ultra-fast charging batteries, according to a CATL statement Thursday.