China’s CATL, Battery Parts Suppliers Ink Partnership Deals on Overseas Project Development
An Zhuo
DATE:  Dec 12 2022
/ SOURCE:  Yicai
China’s CATL, Battery Parts Suppliers Ink Partnership Deals on Overseas Project Development China’s CATL, Battery Parts Suppliers Ink Partnership Deals on Overseas Project Development

(Yicai Global) Dec. 12 -- Chinese battery giant Contemporary Amperex Technology has signed deals with three battery part makers to step up cooperation on overseas project development.

Lucky Harvest will partner with CATL on battery boxes, the Dongguan-based metal parts maker said on Dec. 9, adding that the pair will also deepen their global cooperation, exploring overseas tie-ups and the building of processing and production bases.

Boosted by the news, Lucky Harvest’s shares [SHE: 002965] soared by the exchange-imposed daily trading limit of 10 percent to close at CNY51.38 (USD7.36) apiece in Shenzhen today.

Everwin Precision Technology, a Chinese electric vehicle battery parts supplier, also inked a similar partnership deal with CATL, laying the foundation for project teamwork between the two, the Shenzhen-based firm said on Dec. 9.

Everwin Precision [SHE: 300115] ended up 4.4 percent at CNY11.54 today.

On Dec. 9, battery parts maker Kedali Industry said it will jointly develop overseas projects with Ningde-based CATL, speed up the building of cell structural parts plants abroad, and move toward making overseas and domestic product prices the same. The two will also strengthen their global cooperation on new technologies, such as sodium-ion batteries and Kirin batteries.

According to their agreement, CATL will prioritize Kedali as a supplier of mechanical parts for electric cores with a share of not less than 40 percent, and Shenzhen-based Kedali will give priority to ensuring product demand.

Kedali [SHE: 002850] closed up 0.6 percent at CNY119.36 (USD17.11) today. CATL [SHE: 300750] fell 2.4 percent to CNY414.35. Its stock has risen 7.6 percent this month, with its market value returning above CNY1 trillion (USD143.2 billion).

Editors: Shi Yi, Martin Kadiev

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Keywords:   CATL