Tag: catl

CATL to supply batteries US Startup Electric Last Mile Solutions
Battery & Fuel Cell

CATL to supply batteries US Startup Electric Last Mile Solutions

The US start-up Electric Last Mile Solutions has signed a battery supply contract with CATL. CATL mentioned that they could also manufacture these cells locally in the US. ELMS focuses on last-mile delivery vehicles and in September started production of a Class 1 delivery van at its plant in Mishawaka in the US state of Indiana. This van already uses CATL battery cells. “We reached an important milestone to secure battery capacity in an extremely challenging supply environment,” says Rob Song, ELMS deputy chief financial officer. Apart from the term until 2025, both companies have not given any further details on the agreed supply volumes or the financial scope. Electric Last Mile Solutions Electric Van ELMS’ Class 1 delivery van will be priced from $34,000 before US tax ...
CATL to build recycling plant for battery materials in Hubei, China
Battery & Fuel Cell, Energy & Infrastructure

CATL to build recycling plant for battery materials in Hubei, China

China's CATL is planning to build a recycling factory for battery materials in the central Chinese province of Hubei. The group is planning a joint venture with the company Hubei Yihua Chemical Industry to recycle materials such as cobalt and lithium from used batteries of electric vehicles. According to information from Reuters, the Chinese battery cell manufacturer estimates the investment in the planned factory at up to 32 billion yuan, the equivalent of around $5 billion USD. An engagement in the recycling sector is relatively new for CATL. According to the news agency, among other things, new standards and guidelines formulated by the Chinese government to promote battery recycling and to save materials probably played a role in CATL’s investment decision. The expansion of ...
CATL rumoured to take stake in cobalt miner Jinchuan
Battery & Fuel Cell

CATL rumoured to take stake in cobalt miner Jinchuan

According to a Chinese Media report CATL wants to take a 10% stake in Chinese cobalt miner Jinchuan Group International Resources and secure at least 3,000 tonnes of cobalt per year. CATL, however, denies this. Reuters news agency had reported on Thursday, citing insiders, that both CATL and Huayou Cobalt were each to acquire around 10% of Jinchuan International. According to the insiders, the transaction would also be worth two billion Hong Kong dollars. This would be around $256 million. Two sources “with direct knowledge of the matter” told Reuters that CATL had submitted an offer to Jinchuan to acquire 9.9% . This, they said, would allow the battery maker to secure at least 3,000 tonnes of cobalt per year. Other informants said CATL had even wanted to take 20% to secure twic...