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
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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
