CATL Bolsters Beijing’s EV Industry Ambitions With New Battery Plant

Contemporary Amperex Technology Co. Ltd. (CATL) (300750.SZ) plans to build a plant in Beijing this year, according to the city’s economic planner, a move that comes as the battery giant aims to bolster its manufacturing capabilities to meet the growing demand for new-energy vehicles (NEVs).

The facility is an integral part of Beijing’s broader plan to improve its EV industry chain as the automotive sector has been recognized by the city government as a major pillar of its industrial development, the Beijing Municipal Commission of Development and Reform said Thursday.