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Companies

China's CATL seeks $9bn to expand li-ion battery production

Major EV supplier to ramp up capacity in battle with Panasonic and LG Chem

CATL wants to increase battery manufacturing capacity in China and Germany.   © Reuters

SHANGHAI (Reuters) -- Chinese battery giant CATL said it was planning a private share placement to raise up to 58.2 billion yuan ($8.98 billion) to fund six projects aimed at boosting its production capacity of lithium-ion batteries.

The massive fundraising comes as the Ningdo-based firm - formally Contemporary Amperex Technology Co Ltd - expands battery manufacturing capacity around China and in Germany.

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