CATL: it plans to set up a joint venture with ATL to lay out medium-sized batteries in the fields of household energy storage and electric two-wheeler vehicles

CATL announced that the company and Amperex Technology Limited (ATL) signed two "joint venture contracts" on April 28, 2021 to jointly invest in the establishment of two joint ventures to engage in the R & D, production, sales and after-sales service of medium-sized batteries used in household energy storage, electric two wheeled vehicles and other fields. The investment of the company is 12 billion yuan; The investment of the battery pack joint venture company is RMB 2 billion. In addition, the company signed a cross technology license agreement with ATL to carry out cross technology license for the lithium-ion battery related technologies developed or obtained by the company, and the company obtained corresponding technology license for ATL and lithium-ion battery.