Video tour of the new CATL battery factory
Here is a video of CATL’s nearly completed battery factory, located just 3 km from Giga Shanghai. It’s great to see! We wrote about this giant battery factory under construction 4 months ago and the progress has been very rapid.
This CATL battery factory is under construction in Shanghai Lingang and is nearing completion. Various sources indicate that the factory will be completed in 2 days (10/25/2021) and that CATL will also organize a deployment ceremony to be held internally. It’s a big win for CATL and Tesla due to the close distance between the two factories.
Battery deals with Tesla and other companies
Last year, in February, Tesla and Ningde Times signed a two-year contract that runs from July 2020 to June 2022. With this contract, Ningde Times supplies lithium iron phosphate batteries to Tesla’s Giga Shanghai for vehicles. electric.
Lithium iron phosphate as the cathode material of lithium ion batteries has the advantage of high working voltage, high energy density, long life cycle, good safety and good performance, low self-discharge rate and many other advantages.
There had been a rumor that CATL would build a new large automotive power plant project in Shanghai, China, and that the new plant would have an annual capacity of 80 GWh. This has been interpreted by industry insiders as being closer to Tesla’s production base in Shanghai, China.
Another theory is that CATL is building a factory in Shanghai not only for Tesla, but also for Western Energy vehicles such as NIO, Xpeng and RISO. We’ll have to wait and see what deals will be announced, if any, between these automakers.
CATL is on the right track
If you look at CATL (Contemporary Amperex Technology Co. Ltd.), you can see strong growth in its stock since its debut on June 15, 2018. Since then, the stock has risen from 53.0 yuan to 601.40 yuan, or 12 times more. ROI achieved and I think there is going to be continued strong growth for this business until EVs hit saturation.
In fact, I wouldn’t be surprised to see CATL build another battery factory in Europe and the United States. Let’s wait and see what happens!
What do you think of CATL’s completion of its battery factory near Giga Shanghai? Is it good for Tesla and CATl? Will other automakers benefit, like NIO?
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Jeremy Johnson is an investor and supporter of Tesla. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. He has since grown into a Tesla Bull, covering everything he can find on Tesla, while also taking an interest in other EV companies. Jeremy covers Tesla developments at Torque News. You can follow it on Twitter, Facebook, LinkedIn and Instagram to stay in touch and follow her Tesla news coverage on Torque News.