Contemporary Amperex Technology Co Ltd (CATL) has revealed plans to raise CNY58.2bn (US$9bn) in a share placement with private investors, according to local reports.

China’s largest automotive lithium-ion battery manufacturer confirmed it will invest the funds in new production capacity, to expand its R&D capabilities and to increase its current working capital. The company said it plans to build five new five lithium-ion battery manufacturing plants in China and overseas.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

CATL confirmed in a filing to the Shenzhen Stock Exchange on Friday that it will issue a maximum of 232,900,780 new shares, or 10% of its current equity capital, to no more than 35 investors – subject to regulatory approvals.

Earlier this year CATL said it plans to invest CNY39bn to build three new battery production facilities in China, the largest of which was to be a CNY17bnin Ningde in Fujian province. A further CNY12bn was announced for a plant in Liyang in Jiangsu province, while CNY10bn was to be invested to expand the existing Yibin site in Sichuan province.

The company was more recently reported to be planning a new EV battery plant in Shanghai to supply automakers in the area including Tesla, while it began construction of a 14 GWh plant in Munich, Germany, to supply EV batteries to BMW.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Auto Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Auto Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now