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CATL on Ascendency as the Company Expands to Numerous New Markets
2020-08-13   |  Editor:et_editor  |  510 Numbers

The Chinese leading battery manufacturer Contemporary Amperex Technology (CATL) has been teaming up with several high-profile tech companies and fiercely defending its throne in the field of batteries. CATL will develop new battery technology with Mercedes-Benz, while it joins forces with Schneider Electric in the fields of energy storage and lithium batteries.

Image by Gerd Altmann from Pixabay

CATL Announced That It Will Collaborate With Mercedes-Benz to Develop Next-Generation Battery Technology Together

On August 5, Contemporary Amperex Technology (“CATL”), a leading Chinese power battery company, announced that it will further strengthen cooperation with Mercedes-Benz in the field of battery technology, and jointly develop next-generation battery technology, which will support the large-scale electrification of the Mercedes-Benz vehicles.

This strategic agreement covers power battery technology in various fields, including cells and modules for Mercedes-Benz passenger vehicles and overall battery packs for light commercial vehicles.

Schneider Electric and CATL will join forces in the fields of energy storage and lithium batteries

On August 5, Schneider Electric and CATL have signed an online contract to form a strategic partnership at Schneider Electric Innovation Summit 2020, which will enable their cooperation in the fields of green smart factories, new energy power generation, safe use of electricity, and energy storage.

CATL will also help Schneider Electric achieve its strategic goal: the replacement of lead-acid batteries with lithium batteries.

CATL Raised Rmb 19.7 Billion in Its Non-Public Offering

On August 4, 2020, CATL’s non-public offering of new shares was listed on the Shenzhen Stock Exchange.

According to the previously issued listing announcement, the non-public issuance of new shares was 122,360,248 shares at a price of RMB 161.00 per share. In total, the company raised RMB 19.7 billion in fresh funding.

The announcement stated that a total of 38 investors made bids for purchasing the shares. And the companies that have successfully acquired the shares are as follows:

  1. Hillhouse Capital Group
  2. Honda Motor Company, Ltd.
  3. Pacific Asset Management Co., Ltd.,
  4. UBS AG,
  5. Beixin Ruifeng Fund Management Co., Ltd.,
  6. JP Morgan Securities plc,
  7. Guotai Junan Securities Co., Ltd.,
  8. JP Morgan Chase Bank, National Association
  9. Zhuhai Hillhouse Suicheng Equity Investment Partnership (Limited Partnership)

 

 

 
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