RE: Exciting1 Jul 2018 17:16
China’s Contemporary Amperex Technology (CATL) is said to be ready to start building a battery factory in Germany, planting a flag on the grounds of car giants BMW, Volkswagen and Daimler AG as part of a plan to settle close to most European automakers.
The factory’s location is said to be Thuringia, in east-central Germany, as the state’s Economy Ministry himself hinted to Reuters on Friday, when acknowledging he was negotiating with the Asian company about it.
CATL, China’s No.1 maker of battery cells for electric vehicles (EVs), sold 10% of its stock in an initial public offering to finance expansion beyond its homeland earlier this month.
Bloomberg reported, gave the company a market value of about $13.5 billion, pushing the net worth of shareholder Pei Zhenhua past the $1bn mark, according to its Billionaires Index.