CATL invested over 7 billion yuan (US$1.1 billion) in 11 projects in H1. On July 30, the company reached agreements with the provincial government of Jiangxi and the municipal government of Yichun.
Yichun has been focused on the lithium battery industry since 2009. China's first lithium battery industrial park was built there. The production value is expected to exceed 100 billion yuan within five years. Yichun has the world's largest lepidolite mines, an important source of lithium. CATL has shortcomings in mining and processing lithium so may work with mica companies.
China’s power battery capacity is up 162 percent compared with last year.
CATL also plans to establish an EV control system joint venture at a cost of 1.4 billion yuan.
CATL closed at 529.9 yuan on Tuesday, up 5.39 percent, with a market value of 1.08 trillion yuan.