The world’s largest battery-manufacturer Contemporary Amperex Technology Co (CATL) announced it will invest up to RMB 13.5 billion ($2 billion) in the development of a lithium-ion battery plant in Yichun city in China’s Jiangxi province, reports Caixin. The company said it had inked a cooperation agreement with the city government to build the factory over an area of approximately 866,000 square meters to boost the company’s production capacity and meet expansion needs.
The Fujian-based company also signed deals in Yichun for a joint venture with state-owned Yichun Mining, and a collaboration with electric carmaker Hozon Auto, both to strengthen “upstream and downstream production processes.”
The latest announcement follows a strategic cooperation framework that CATL signed with the Jiangxi provincial government and Yichun government in Nanchang in late July.
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