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Hyundai Mobis has signed a technology licensing and partnership agreement with Chinese electric vehicle (EV) battery manufacturer Contemporary Amperex Technology Company Ltd (CATL), according to reports in China.

CATL, the world’s largest automotive lithium ion battery manufacturer, agreed to grant a global licence for its CTP (cell to pack) technology to Hyundai Mobis and to provide parts and support relating to the technology.

CATL’s CTP technology was said to directly integrate cells into packs without modules, helping to improve energy density, simplifying manufacturing and reducing costs.

CATL said in a statement the two companies had also agreed to work together to develop innovative technologies for the global EV market, adding: “This partnership initiates a new model for global technology cooperation in the industry.”

It will also help CATL to expand the use of its battery technology worldwide.

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By GlobalData

Hyundai Mobis, controlled by Hyundai Motor Group, is South Korea’s largest supplier of automotive components and technology with a focus on chassis systems such as brakes, suspension and steering systems, airbags, electric and hybrid drivetrain systems, electrical systems including lighting and infotainment systems, connected and autonomous driving systems.