CATL explores new EV battery services, more capacity - chairman

  • May 27, 2020
  • Kitco

BEIJING, May 27 (Reuters) - China's top electric vehicle (EV) battery maker CATL is exploring new battery-related services and will expand manufacturing capacity in the next two years, its chairman told Reuters.

Ningde-based CATL, which alongside LG Chem and Panasonic is one of the biggest EV battery makers globally, is developing battery-swapping and battery maintenance services, its chairman Zeng Yuqun said on Wednesday.

It will also expand recycling capabilities in China and invest in similar businesses overseas, Zeng added in a written response to Reuters questions. The firm, which has signed supply deals with Tesla Inc and Volkswagen AG , expects to increase battery manufacturing capacity in the next two years, Zeng said.

It may target further overseas expansion based on industry development, he added. The firm is currently building a plant in Germany.

(Reporting by Yilei Sun and Brenda Goh; Editing by Jan Harvey)

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