Share this article

China's electric vehicle battery manufacturer Contemporary Amperex Technology Ltd (CATL) said it is increasing its planned investment in R&D and production facilities in Europe to EUR1.8bn, according to reports in China.

This is a major increase on the company's stated plans last year to invest EUR240m in production facilities in Europe, which provided for a production capacity of 14 gigawatt-hours (GWH) by 2022.

With the increased investment, CATL plans to establish a centre for product research, development and testing, as well as construction of lithium-ion battery production facilities in the German state of Thuringia. The investment is expected to take at least 5 years on a 70 hectare site.

Local analysts in China noted that demand for new-energy vehicles (electric and hybrid) in Europe has grown rapidly in recent years, while the battery industry has lagged far behind. Data from Bloomberg shows EU production capacity for electric/hybrid vehicles amounts to just 4% of the global total, according to reports in China.

Its European investment will help CATL better serve its clients in the region. The company, reputed to be the largest manufacturer of new-energy vehicle batteries worldwide, also has operations in the USA, Canada and Japan.

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.

Company Profile – free sample

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