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China's CATL invests $2bn in plant for new lithium battery

World's largest producer on pace to quintuple total capacity

CATL looks to quintuple battery production capacity to 600 gigawatt-hours by 2025.

GUANGZHOU -- CATL, the world's largest producer of electric vehicle batteries, will spend up to 13.5 billion yuan ($2.09 billion) on a plant in China to produce a new type of lithium battery.

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