Volkswagen bets on batteries supplied by CATL

Volkswagen has nominated Chinese battery specialist Contemporary Amperex Technology (CATL) as supplier to implement its ambitious electrification roadmap, according to “Caixin”. However, VW intends to add also other battery suppliers later on.

The first all-electric model equipped with the CATL batteries is supposed to be launched before the year’s end – most likely in China. CATL is already cooperating with PSA, BMW and Daimler and currently the world third largest battery maker with an output of 6.8 GWh in 2016. Accordingly, the Chinese battery manufacturer is working on a Gigafactory of its own in China and also delivers cells for the BMW i3 (we reported).

Moreover, CATL is said to plan an initial public offering (IPO) on China’s stock exchange and to be close to a final decision, where to install its first overseas plant in Europe. Three potential countries are obviously on the shortlist, namely Germany, Poland and Hungary.
caixinglobal.com