Valmet Automotive and Contemporary Amperex Technology Limited (CATL), have unveiled a partnership, which will see the battery solutions company take a 22% stake in the Finnish supplier.
After the new share issue, the owners of Valmet Automotive are Pontos (39%), Tesi (39%) and CATL (22%).
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CATL is a private Chinese company developing, manufacturing and providing after-sales services of lithium-ion battery solutions for electric vehicles and energy storage markets. It is among the three leading electric vehicle battery providers globally, employing 10,000 staff.
“The electrical vehicle market is in fundamental transformation and growth expectations are significant,” said Valmet chairman, Jarkko Sairanen. “CATL bring new resources and capabilities for Valmet Automotive to invest.
“China is globally the largest and most important electric vehicle market today and CATL is recognised there as the top battery provider. Our teams in Finland, Germany and Poland have served leading European automotive manufacturers for decades and now we aim to open a new path in the development of Valmet Automotive.”
The partnership of Valmet Automotive and CATL will be focusing in particular on project management, engineering and battery pack supply for electric and hybrid vehicles.
