Chinese Battery Leader CATL Invests 24 Billion Yuan in Expansion of Sichuan Factory

Chinese Battery Leader CATL Invests 24 Billion Yuan in Expansion of Sichuan Factory

( Source: CATL)

Contemporary Amperex Innovation Co., Ltd. (CATL), China’s leading manufacturer of EV batteries, revealed on Thursday that it prepared to purchase the building and construction of a brand-new power battery production base in Yibin, Sichuan Province, with an optimum worth of 24 billion yuan ($ 3.76 billion). The financier of this task is Sichuan Times New Energy Innovation Co., Ltd., a wholly-owned subsidiary of CATL.

Yibin is among the leading 10 battery production bases run by CATL. Amongst the leading 10 battery production bases presently set out, 9 lie in China, and another lies in Germany.

Given That 2019, CATL has actually revealed brand-new power battery factories in Yibin with an overall financial investment of about 32 billion yuan. These jobs are built in 6 stages, and the financiers are likewise Sichuan Times.

In June this year, the very first stage of Yibin Base was formally taken into production. At the commissioning event of the job, Zeng Yuqun, chairman of CATL, stated that after the conclusion of Yibin Base, it would end up being the most essential power battery production base in Southwest China of the business.

In July this year, CATL likewise signed an extensive deepening cooperation arrangement with Yibin City, revealing that it would collectively construct the southwest head office of the business in the city.

Because 2017, CATL has actually been the world’s biggest power battery producer for 4 successive years. According to information launched by SNE, a South Korean marketing research organization, in the very first 11 months of this year, the worldwide power battery deliveries of CATL were 79.8 GWh, with a market share of 31.8%, continuing to rank initially in the market.

Considering that the start of this year, CATL has actually successively revealed strategies to construct 6 brand-new battery factories, with an overall financial investment of about 52.5 billion yuan. In August this year, the business revealed that it would provide shares to particular targets to raise 58.2 billion funds, which would be primarily utilized for brand-new battery capability and other functions. In November, the business decreased the fundraising scale to 45 billion yuan.

In action to the Shenzhen Stock Market (SZSE) questions on fundraising, CATL stated that by 2025, the battery capability required to reach 520 GWh, based upon the worldwide market share of power and energy storage batteries of 30%. In addition, CATL divulged that its battery capability was 106.41 GWh at present. If the battery assembly line that has actually been finished and taken into operation finishes the capability climbing and runs stably, the created yearly capability would reach 220-240 GWh.

SEE LIKEWISE: CATL Launched World’s Largest Single Task for Lithium Battery Production with a Planned Capability of 120 GWhv

In the very first 3 quarters of this year, CATL attained income of 73.3 billion yuan, a year-on-year boost of 132%. The net revenue attributable to investors of noted business was 7.75 billion yuan, a year-on-year boost of 130%.


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