CATL to partner NETA Auto on NEV technology

Power battery giant CATL will participate in NETA Auto’s D2 financing round and work with the EV maker on technology and supply chain. CATL will become NETA’s battery supplier and partner in new technology.

NETA Auto raised four billion yuan (US$625 million) in its D1 round led by Qihoo 360 Technology. The new V Pro model is the first equipped with 360 protection.

NETA Auto delivered 50,000 vehicles in the first ten months of this year, nearly five times that of last year. In October, it delivered 8,107 units.