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CATL offering EV battery discounts to automakers: source

Quid pro quo deal seen as helping supplier of Tesla, Nio bolster market lead

A display showing CATL batteries at an exhibition in Beijing in October 2022. Many automakers, whose names have not been disclosed, responded positively to CATL's offer.   © Reuters

Contemporary Amperex Technology Co. Ltd. (CATL), the world's largest electric vehicle battery maker, is in talks to offer automakers steeply discounted prices in exchange for sourcing the vast bulk of their power cells from the company in a bid to stave off growing competition from smaller rivals, Caixin has learned.

If the plan goes ahead, CATL will sell the strategic clients EV batteries made from self-manufactured lithium carbonate at a low price. In return, they will be required to sign a contract committing them to buy 80% of their EV batteries from CATL over the next three years, a person close to the company told Caixin on Sunday.

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