Chinese automaker Great Wall Motors has signed a ten-year agreement with the country’s largest electric vehicle (EV) battery manufacturer Contemporary Amperex Technology Company (CATL), allowing it to strengthen its EV manufacturing strategy.
The agreement will help the two partners leverage their respective strengths to help grow the new energy vehicle segment and contribute to China’s goal of reaching peak carbon emissions by 2030 and achieving carbon neutrality by 2060.
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The two companies, who began working together to develop battery-powered vehicles in 2016, said the new agreement will help “consolidate their relationship”. CATL currently supplies batteries for Great Wall’s popular Ora range of EVs, with cumulative sales expected to reach 1 million units by 2023.
Great Wall also said it plans to launch a new hydrogen fuel-cell electric vehicle (FCEV) later this year, an SUV model with a range of 840km, followed by a range of 100 hydrogen-powered heavy trucks.
The automaker had previously announced plans to invest up to US$460m in hydrogen-related R&D over the next three years with the aim of establishing itself as a leading player in this segment. Last month it signed an agreement with local energy company Sinopec to collaborate in the development of hydrogen technologies.
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By GlobalData
