Chinese battery manufacturer CATL intends to build another lithium-ion plant in China, spending some $1.4 billion on the site.

The location is the Sichuan province in the southwest where the auto industry wants to produce New Energy Vehicles.

According to Bloomberg's article, the first phase will be ready within 26 months from the start of construction, while the second phase begins two years after that. The amount of $1.4 billion suggests it will be another significant gigafactory.

BloombergNEF already tracked 120 GWh of battery manufacturing capacity set or planned by CATL by 2022.

For comparison, the Tesla/Panasonic duo is expected to be at 105 GWh by 2022, according to BloombergNEF.

Source: Bloomberg

Got a tip for us? Email: