CATL's subsidiary to invest in expansion of power battery production line
2021-02-26 11:46:31 [Print]
On 25 February, Contemporary Amperex Technology Co., Ltd. (CATL) announced that its holding subsidiary CATL SAIC Power Battery Co., Ltd. planned to construct the CATL SAIC power battery production line expansion project in Zhongguancun Hi-tech Zone, Liyang, Jiangsu, with a total investment of no more than RMB10.5 billion (USD1.62 billion).
According to the announcement, the project will be constructed in two phases. Phase one project will be completed within 15 months after the commencement and phase two project will be launched within one year after completion of phase one, with the final schedule being subject to actual construction progress.
CATL hold 51% equities and SAIC Capital holds 49% equities of CATL SAIC Power Battery with a registered capital of RMB2 billion (USD0.31 billion).
According to the announcement, the project will be constructed in two phases. Phase one project will be completed within 15 months after the commencement and phase two project will be launched within one year after completion of phase one, with the final schedule being subject to actual construction progress.
CATL hold 51% equities and SAIC Capital holds 49% equities of CATL SAIC Power Battery with a registered capital of RMB2 billion (USD0.31 billion).
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