CATL Names First Partner for Its Chassis Business

A rundown of the news making headlines in and around China:

CATL’s new chassis: A subsidiary of state-run Chongqing Changan Automobile Co. Ltd. (000625.SZ) will be the first carmaker to build a vehicle off Contemporary Amperex Technology Co. Ltd.’s (CATL) (300750.SZ) new battery-integrated chassis. The tie-up between CATL and Avatr Technology Co. Ltd. highlights the changes taking place in China’s automotive industry in the era of electric vehicles (EV). The industry is seeing batteries and chassis grow more integrated in an effort to reduces costs and extend the range of EVs. CATL’s new chassis, called Bedrock, offers automakers a platform on which they can develop their EVs. However, CATL is also encroaching on automakers' home turf with its new chassis business, as the development of this core vehicle component has been a traditional strength of car manufacturers.