2 weeks Ago
CATL will partner with German automaker Volkswagen on EV batteries, new materials and other auto parts, the Chinese battery giant has announced, amid intensifying competition in the Chinese EV market. The Chinese company said it has signed a memorandum of understanding with Volkswagen to strengthen its partnership in EV battery R&D along with new material applications and the development of auto parts. Volkswagen said the collaboration with CATL will help provide better battery solutions for its customers, support its supply chain and help in meeting the increasing requirements of the EV market.
Volkswagen has also tied up with Chinese EV maker XPeng to build thousands of charging stations across more than 400 Chinese cities. In June 2024, the cell test lab of CATL was granted the lithium-ion battery cell testing qualification certificate by Volkswagen Group. The Volkswagen Group delivered 2.
9 million vehicles in China in 2024, 10% lower than 2023. In April 2024, Volkswagen announced a 2.5 billion EUR investment in China.
In 2023, the automaker purchased a stake in EV startup Xpeng for USD 700 million..
