Several players are in the midst of building – or planning – large scale manufacturing plants in order to keep up with the anticipated increase in demand as the automotive industry is becoming more and more electrified.
And now it looks like yet another player is eying European production. Chinese Contemporary Amperex Technology Ltd. (CATL) is reportedly planning a local manufacturing facility with a greater output than that of Telsa, according to a report in Bloomberg citing a person familiar with the plan.
CATL is reportedly close to picking one of three sites – all of them within the EU – for the company’s first plant outside of China. And according to the source, Germany, Hungary and Poland are competing countries.
During 2017 (and onwards) several companies announced their plans to either increase or set up European battery manufacturing; among them we find companies such as Daimler, LG Chem, Northvolt, GS Yuasa and Samsung SDI.
Besides the European manufacturing facility, the company is also planning a new factory in Ningde, Fujian in China, which would quintuple the company’s production capacity, the report continues.