EVs ride affordability wave | Image:Pixabay
Enhancing EV batteries: Chinese manufacturer of electric-vehicle batteries CATL is holding deliberations with Tesla and many other automakers to license its battery technology in the US instead of building its own plant there, a Wall Street Journal report said on Monday.
The scale of cooperation and finer details about what kind of technology Tesla would license from CATL are still being discussed and will depend on the EV maker’s cash flow, the media report said, citing an interview with CATL Chairman Robin Zeng. The Chinese company’s existing partnership with Ford Motor will be the model for similar cooperation with other US carmakers, the report added.
Last year Ford said that it would scale back the investment for its Michigan battery plant to produce low-cost lithium-iron batteries based on technology licensed by CATL following pushback from US lawmakers.
The reported deliberations of CATL with Tesla and other carmakers comes amid a global slowdown in EV demand and as US lawmakers tighten their grip over the battery industry to prevent China-produced minerals or Chinese battery companies from winning electric vehicle tax credits. Ford, CATL and Tesla did not respond to Reuters requests for comment immediately.
CATL is also working on faster charging batteries for Tesla and supplying machinery to the Elon Musk-led company’s factory in Nevada, according to an interview Bloomberg News had with Zeng.
Zeng had told reporters earlier this month that the company was in discussions to set up research and development centers in Hong Kong to create new technologies that can be licensed abroad as domestic EV demand weakens.
(With Reuters inputs)
