• Latest
  • Trending
Musk says Tesla new self-driving rollout could take a couple months

Exclusive Tesla supplier Catl plans a major battery plant in Shanghai

Global economies struggle as oil supplies tighten, volatile stakes

Oil prices see a surge, supply concerns to aid in the cause

S & P 500 ends at record high as Wall Street rises

Wall St futures tumble, dollar holds its ground against tides

OPEC+ members face issues of tight oil supplies

OPEC+ members face issues of tight oil supplies

U.S. energy companies shudder after economic and climate warnings

U.S. energy companies shudder after economic and climate warnings

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank strikes Gold at Technnovation Awards 2022

Russia evades default through sheer force of will; Kremlin speaks

Russia evades default through sheer force of will; Kremlin speaks

Global economies struggle as oil supplies tighten, volatile stakes

G7 fixate on stricter sanctions to impose on Russia, oil rates wobble

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank empowers local youth with People’s Spark Entrepreneurship Development Programme

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

Russia may be driven into default, Eurobonds due in payment

Russia may be driven into default, Eurobonds due in payment

Asia shares falls on worries over inflation, Fed outlook

An insightful glimpse of the market during the inflation period

Russia’s Sovcomflot managed to strike deals despite sanctions

Russia’s Sovcomflot managed to strike deals despite sanctions

Global Business Review Magazine
Thursday, July 7, 2022
Nominate Here
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
No Result
View All Result
Global Business Review Magazine
No Result
View All Result

Exclusive Tesla supplier Catl plans a major battery plant in Shanghai

Musk says Tesla new self-driving rollout could take a couple months

China’s CATL is planning a major new automotive battery plant in Shanghai. Continuing a blistering pace of expansion that will cement its lead as the world’s No.1 supplier.

The factory in Shanghai will put it close to Tesla Inc’s Chinese production base after it began supplying batteries for the U.S. automaker’s Model 3 cars in China last year. CATL aims to become its biggest supplier in the near future by providing half of the battery cells Tesla uses globally. In electric vehicles and roof energy storage this can be seen said a senior source at the Chinese company.

YOU MAY ALSO LIKE

Oil prices see a surge, supply concerns to aid in the cause

OPEC+ members face issues of tight oil supplies

The new plant can make 80 gigawatt-hours of battery cells a year. This would come on top of 69.1GWh in current production capacity and another 77.5GWh under construction. CATL has been in talks with the Shanghai government about building the factory. The location of the factory also adds perks to the features. CATL said that it is in talks with Tesla about more collaboration. And also, Tesla is seeking help from the company on battery solutions, but declined to comment on any plans for additional production capacity.

The expansion plan is likely to add to competitive pressure on Tesla’s other battery suppliers. Japan’s Panasonic Corp and South Korea’s LG Energy Solution, a unit of LG Chem. Many battery makers are ramping up their production. So that they can meet the soaring worldwide demand, because car makers accelerate their shift to electric vehicles. And this is to comply with tougher emission rules which is aimed at tackling global warming.

The plant is likely to be located south of Tesla’s Shanghai factory in Lingang, Pudong New Area. It will hire 5,000 workers and manufacture cell-to-chassis (CTC) batteries. The new technology integrates cells directly onto an EV’s frame. And this is to increase the energy density of battery systems. CATL Chairman Zeng Yuqun has said electric vehicles could attain driving ranges of over 800 km (500 miles) with CTC technology and added that CATL aims to launch the technology before 2030.

A research center is also being planned by CATL and a global sales and operational center in Shanghai. Shenzhen-listed CATL closed down 2.3%, valuing the battery maker at some $155 billion. The broader ChiNext Composite index fell 1.3%. Its shares have risen some 18% this year as sales soar.

Tags: BatteryChinaTesla
ShareTweetShare

Search

No Result
View All Result

Recent News

Global economies struggle as oil supplies tighten, volatile stakes

Oil prices see a surge, supply concerns to aid in the cause

S & P 500 ends at record high as Wall Street rises

Wall St futures tumble, dollar holds its ground against tides

OPEC+ members face issues of tight oil supplies

OPEC+ members face issues of tight oil supplies

U.S. energy companies shudder after economic and climate warnings

U.S. energy companies shudder after economic and climate warnings

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank strikes Gold at Technnovation Awards 2022

Russia evades default through sheer force of will; Kremlin speaks

Russia evades default through sheer force of will; Kremlin speaks

Global Business Review Magazine

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

  • Oil prices see a surge, supply concerns to aid in the cause
  • Wall St futures tumble, dollar holds its ground against tides
  • OPEC+ members face issues of tight oil supplies
  • U.S. energy companies shudder after economic and climate warnings
  • People’s Bank strikes Gold at Technnovation Awards 2022

Categories

  • Banking
  • Business
  • Events
  • Finance
  • FinTech
  • Tech
  • Videos
  • About
  • Nominate
  • Privacy & Policy

© 2022 Global Business Review Magazine - All Rights Reserved.

No Result
View All Result
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine

© 2022 Global Business Review Magazine - All Rights Reserved.

Go to mobile version