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CATL to Invest EUR240m to Expand German EV Battery Plant

4.40

10 ratings

Written by Una Qu

Published at 2019-02-15 09:36

Summary

Contemporary Amperex Technology (CATL) [300750:CH] is considering to spend EUR24m (USD271m) to increase the scale of its electric vehicle (EV) battery plant in Erfurt, Germany, reported Yicai Global on February 14. CATL’s European President Matthias Zentgraf said that the company plans to reach a 14 gigawatt-hour (GWh) output in the first phase and achieve over 100 GWh by 2026. The Erfurt plant is expected to commence construction in the spring of this year and start production of EV batteries in 2021.