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China’s CATL Eyes Germany for Battery Factory
Fast-growing Contemporary Amperex Technology Co. Ltd. reportedly is close to deciding to build a huge factory in Germany to make batteries for electric cars.
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Fast-growing Contemporary Amperex Technology Co. Ltd. is close to deciding to build a huge factory in Germany to make batteries for electric cars, sources tell Bloomberg News.
The sources say the Chinese company’s other options are sites in Poland and at least one other European country.
The capacity for CATL’s plant hasn’t been disclosed. But analysts believe battery makers consider at least 30 gigawatt-hours of energy a threshold for efficient production. Startup Northvolt AG is rounding up funding to build a $4 billion battery plant in Sweden annual cell-making capacity of 32 gigawatt-hours of cells—enough to power about 450,000 EVs—by 2022.
LMC Automotive has estimated that European demand for EV batteries could reach 600,000 units by 2020 and about 1 million by 2020.
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