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Chinese battery maker CATL major battery supplier for MercedesBenz’s next generation of electric powered vehicles

Chinese battery maker CATL announced on Wed it will become a major battery supplier for MercedesBenz’s next generation of electric powered vehicles.

Mercedes-Benz and Chinese battery manufacturer CATL today announced a “major” partnership to “create cutting-edge battery technology” and supply batteries for the upcoming EQS electric car.

Over the last few years, CATL has emerged as the leading battery supplier for electric automakers, not just in China, but around the world.

Now they are adding Mercedes-Benz to the long list of global auto partners.

Mercedes-Benz and CATL announced that they have entered “the next stage of their strategic partnership and will create cutting-edge battery technology in support of the high-volume electrification of the Mercedes-Benz model portfolio.”

The two companies say that the agreement covers “the full range of battery technologies, from cells across modules for Mercedes-Benz Cars to entire battery systems for Mercedes-Benz Vans in promising innovative technology configurations.”

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Volkswagen invests 2 billion euros into China electric vehicle

Volkswagen AG (VOWG_p.DE) plans to boost its electric push in Chinaby pumping 2.1 billion euros in two  Chinese electric vehicle players. Volkswagen said it will invest 1 billion euros to take a 50% stake in the state-owned parent of Anhui Jianghuai Automobile Group (JAC Motors) (600418.SS), also taking full management control of the its existing electric vehicle joint venture with JAC by raising its stake to 75% from 50%.  The joint venture will launch five more electric models by 2025, when the German giant aims to sell 1.5 million new energy vehicles (NEV) – including battery electric cars as well as plug-in hybrid and hydrogen fuel-cell vehicles – a year in China.  China has set a target of 25% of 2025 annual vehicle sales to be made up of NEVs. More than 25 million vehicles were sold in China last year.
Audi China confirmed on 7-14-20, that its parent company Volkswagen AG and its Chinese joint venture partner SAIC Motor plan to invest 4.13 billion yuan ($590 million) to revamp their car plants in Shanghai to make new Audi sedans.