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EV-battery giant CATL to boost capacity with $4.5bn investment

China's global champion in the field doubles down on growth

CATL is the world's top maker of batteries for electric vehicles.   © Picture-Alliance/dpa/AP

GUANGZHOU -- The world's largest maker of batteries for electric vehicles, China's CATL, says it will rev up production even higher, spending up to 29 billion yuan ($4.49 billion) to build or upgrade domestic factories to meet growing demand.

This is in addition to plans Contemporary Amperex Technology Ltd. unveiled last year to boost capacity at a cost of up to 65 billion yuan.

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