CATL, the largest Chinese lithium-ion EV battery manufacturer, announced a strategic cooperation agreement with Guangdong Province.

The company intends to build a new battery plant in Guangdong, which in the first phase will have an output of 25 GWh of cells annually. In the longer term (2030), CATL would like to have a 150 GWh site in Guangdong.

The planned investment in the initial stage is 12 billion yuan ($1.85 billion).

According to reports from China, CATL is also expanding its other Chinese plants and is on track to increase its installed manufacturing capacity from 109 GWh annually in 2020 to 336 GWh annually in 2023.

A big part of the future growth might be the partnership with Tesla, which started to use CATL cells in high volume last year.

Beside the expansion of manufacturing capacity, CATL is working on multiple fronts to offer batteries of various chemistries, including the most popular NCM, LFP and upcoming solid-state type with a very high energy density.

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