China’s CATL has hinted at raising CNY58bn ($9bn) in order to set up more lithium battery projects in the Asian country.

 

CATL plans to fund six different factories in China’s Guangdong, Fujian, and Zhejiang provinces, in addition to developing battery technologies, noted media reports on Aug 13.

 

The Ningbo-based firm is one of three EV battery suppliers to auto manufacturers like Geely, Tesla, and Volkswagen. CATL had previously announced setting up three Li-On plants in China with an initial investment of CYN29bn in February this year.

 

($1=CNY6.48)

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