Electric Vehicles

https://archive.is/L24Eh

The world’s largest EV battery manufacturer has been rapidly expanding its share in the European market, which rose to 45 per cent from 37 per cent last year, according to JPMorgan.

Its global share was at 37 per cent in first seven months of the year, compared with 18 per cent for BYD, according to South Korea’s SNE Research.

The group also plans to bring its battery-swapping and recycling technology to Europe.

The Chinese group has invested more than €11bn in Europe, expanding its local manufacturing footprint in Germany and Hungary. It is also building a new plant with Stellantis in Spain, which is expected to start operations by the end of next year.

Shen said CATL was open to discussing joint ventures not only with other carmakers but also with battery makers such as France’s Automotive Cells Company, a joint venture between Stellantis, Mercedes-Benz and TotalEnergies.

In the US, where protectionism, anti-China sentiment and security concerns has led to an effective ban on new Chinese cleantech manufacturing, the group has instead licensed its battery manufacturing technology to Ford and Elon Musk’s Tesla.