CATL (SHE: 300750) has recently launched production at a new battery manufacturing facility in Yanzhou district of Jining, Shandong province. This new facility is strategically located to better serve customers in northern China and is currently the largest battery base in the country in terms of planned capacity.
The production base is being constructed in three phases, with the first phase already in operation with a capacity of 60 GWh. The first phase covers an area of 530,000 square meters, with a total construction area of 520,000 square meters, including factory buildings and living facilities.
CATL has ambitious plans for the second and third phases of the project, which are set to go into operation later this year and next year, respectively. These phases are expected to establish a world-leading new energy battery cluster at a value of RMB 100 billion ($14 billion).
The company has also signed cooperation agreements with various partners in Shandong, including initiatives to build a zero-carbon city with Jining city and promote the battery swap model with the Shandong Provincial Department of Transportation.
By the end of 2024, CATL had 13 battery production bases and six R&D centers globally. As the world’s largest power battery supplier, CATL installed 84.9 GWh of EV batteries in the first quarter of this year, representing a 40.2 percent increase from the same period last year.
In addition to its global presence, CATL continues to dominate the Chinese market, holding a 38.3 percent share of the global power battery market in the first quarter of this year and a 39.44 percent share of power batteries installed in China in April.
CATL recently concluded its Hong Kong share offering, raising funds for its projects, with trading set to commence on May 20 under the ticker symbol 3750. The company plans to use approximately 90 percent of the proceeds from the offering for its project in Hungary.
The success and expansion of CATL’s battery production base in northern China signify the company’s commitment to innovation and sustainability in the electric vehicle industry. With a strong foothold in the global market and a focus on cutting-edge technology, CATL is poised to continue leading the way in the development of energy storage and power batteries.
