Catl Signs Battery Supply Agreement With Tesla

Contemporary Amperex Technology has not revealed who it intends to deliver. This will require a lot of batteries, so Tesla is working to secure the battery production capacity of multiple suppliers. The Nissan Leaf and mini Electric are made locally and Property Week reported that Tesla is also considering opening its own “Gigafactory” car battery factory in England. SHANGHAI (Reuters) – China`s leading electric vehicle battery maker CATL 300750.SZ said on Monday it had signed a battery supply agreement with Tesla TSLA.O. On February 3, Chinese battery maker CATL announced that it had signed a two-year supply contract with Tesla, valid from July 1, 2020 to June 30, 2022. CATL said the electric car maker, led by Elon Musk, will determine the volume of battery purchases based on its needs, but the deal does not limit Tesla`s purchase volume. Tesla said last week that it had partnered South Korea`s LG Chem and China`s CATL to supply batteries for electric vehicles. The company, which has a long-standing battery supply contract with Japanese company Panasonic, said its contract with LG Chem and CATL is smaller. Tesla is building Model 3 vehicles from its $2 billion factory in Shanghai, which began delivering cars last year, and said it would diversify the plant`s battery supply. The Reuters article is a bit easy to detail, but gives us more information than we knew so far. The deal has a two-year term from mid-2020, but “does not limit Tesla`s purchase volume.” The company signed a two-year contract in February to supply batteries for Tesla Model 3 cars.

Other customers are BMW, Daimler, Honda, Toyota, Volkswagen and Volvo. Other automakers have recently had their own battery power problems. Some upcoming cars have experienced delays or cuts in production plans in some areas. Mercedes has rightly admitted that Tesla`s acquisition of Grohmann Engineering influences its battery production plans. One of the world`s largest battery suppliers, CATL, has signed an agreement with Tesla, as Reuters reports. . . .