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China to invest $845 million on ramping up its advanced EV battery ambitions

China plans to invest around 6 billion yuan ($845 million) to develop next-generation battery technology powering electrical vehicles (EVs), even as its industrial policy has sparked overcapacity concerns and become a key target of US and European complaints. A total of six companies — including Contemporary Amperex Technology (CATL), the …

CATL, Xiaomi and BAIC to build a battery plant in China

China’s top battery supplier Contemporary Amperex Technology (CATL), entered a joint venture with Xiami Auto and Chinese state-owned BAIC to build an intelligent battery cell plant. The upcoming battery cell manufacturing plant will be built under the jointly established Beijing Era New Energy Technology Co., Ltd. The joint venture company …