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Tesla in Talks with CATL to Supply EV Batteries in China?
Tesla Inc. reportedly is negotiating a deal with Contemporary Amperex Technology Co. Ltd. to supply its assembly plant in China with batteries for the electric vehicles made there.
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Tesla Inc. is negotiating a deal with Contemporary Amperex Technology Co. Ltd. to supply its assembly plant in China with batteries for the electric vehicles made there, sources tell Bloomberg News.
A deal would be a significant sign of success for both companies, Bloomberg adds. CATL is on its way to becoming China’s largest maker of lithium-ion batteries. And signing the company would underscore Tesla’s improving financial clout.
The plant site Tesla began developing in Shanghai two months ago may be ready to begin limited assembly work for Model 3 electric sedans by the end of this year. The carmaker’s single outside supplier of batteries to date is Panasonic Corp., a major investor in Tesla’s U.S. batterymaking “gigafactory” in Nevada.
The new facility will make Tesla the world’s first foreign carmaker to operate a wholly owned factory in China. The company said a year ago it plans to add production of its upcoming Model Y compact crossover vehicle in China by the end of 2019. The company is scheduled to unveil the new car later today.
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