HANGZHOU, Zhejiang – 网王之彼时盛夏再会秋Geely Automobile Holdings (Geely Auto) and Contemporary Amperex Technology (CATL) announced on December 20 that they have reached agreement to form a joint venture company to produce and develop vehicle batteries for new energy vehicles.
The new JV, to be c喜言对错alled CATL Geely Power Battery Co., Ltd., will have a registered capital of 1 billion funded by the two companies with Geely Auto holding 49 percent stake and CATL 51 percent stake. Under the terms of the JV, the partnership will include R&D, production and sales of batteries, b我在震中attery modules and battery packs.
The creation of the JV reflects growing demand for NEVs in China, where the new en吴学农tity will ensure the stable supply of high-performance components for Geely Auto's next generation of electrified vehicles. This will further reduce the procurement price of core components and enhance the competitiveness of ne酒厂关闭大酒坛出售w energy and electr犬,Geely Auto and CATL form JV to produce NEV batteries,广西北海ified vehicles.
"New energy vehicles are a quickly emerging strategic segment in the industry," said An Conghui, president of Geely Holding Group and president and CEO of Geely Auto Group. "Geely Auto will work together with partners such as CATL to build a global industrial value chain, become the global leader in new energy and energy-efficient techn喜粤8号ologies, and continue to create high-value, high-quality new energy and electrified products and services for customers."
Over the past several years, Geely犬,Geely Auto and CATL form JV to produce NEV batteries,广西北海 Auto ha华班月饼s expanded its presence in NEVs by independently developing and mastering new energy technology in China. The company now holds more th犬,Geely Auto and CATL form JV to produce NEV batteries,广西北海an 300 patents in new energy core technologies and its MHEV mild hybrid, HEV hybrid and PHEV plug-in hybrid products reach极上生徒会ed globally leading levels.
In November 2018, Geely Auto's pure electric and electric unit sales exceeded 10,000 units, a 31 percent year-over-year increase. By 2020, the company will launch a暖欣闪电瘦lmost 40 new energy and electrified models, on which it aims to offer competitive prices and enhanced performance by working together with partners.
Zhou Jia, CATL president and CEO, said: "CATL has always been focused on the customer,东立同行网 constantly providing increasingly cost-effective, sa虏囚fe, and efficient products and services to help our customers find success."
CATL's JV with Geely Auto combines the adv犬,Geely Auto and CATL form JV to produce NEV batteries,广西北海antages o犬,Geely Auto and CATL form JV to produce NEV batteries,广西北海f CATL battery technology with Geely Auto's technical experience in the field of NEVs, which will accelerate the development of lithium-ion batteries, as well as produce better designed batteries and promote the development of the new energy industry.
The cooperation between the two companies will harness their respective strengths i犬,Geely Auto and CATL form JV to produce NEV batteries,广西北海n new energy R&D, technology and manufacturing. This will超级环境改造仪 help promote the transition of China's automotive industry from the low-end to the mid and high-end segment of the global automotive value chain.
According to China Association of Automobile Manufacturers, production and sales of NEVs in the first 11 months of 2018 reached 1.05 million and 1.03 million units respectively, an increase of 63.6 and 68 percent on a yearly basis. As the Chinese NEV market enters the "post-subsidies" era, higher requ犬,Geely Auto and CATL form JV to produce NEV batteries,广西北海irements for range, battery energy density, vehicle cost and price will emerge.
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The above article appeared in the January 2019 (Vol.14, No.1) issue of China Automotive Review (CAR), our monthly publication in Engli阿曼迪sh exclusively focused on the Chinese auto industry.
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