CATL Opens First North American Base, Strengthening Presence in US Market

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Contemporary Amperex Technology Co., Limited (CATL)

Dec 07, 2018, 11:02 ET

New North American Subsidiary in Detroit Will Serve Local Automobile Industry

DETROIT, Dec. 7, 2018 /PRNewswire/ -- Contemporary Amperex Technology Co. Ltd (CATL, "the Company"), a leading global supplier and manufacturer of lithium-ion battery products for electric vehicles (EVs) and energy storage facilities, is renewing its commitment to the US market by opening its first North American sales and service facility. The Company has established partnerships with several US-based businesses that will release products into the market very soon. The new Detroit base is the fourth international site to be opened by CATL and follows the opening of the company's Japan subsidiary in May.

CATL currently supplies the North American market with core battery technologies for EVs and energy storage solutions. The new CATL facility in Detroit will allow the Company to improve the supply of lithium-ion batteries to the US auto market and to support the expansion of EV manufacturing.

"2017 was the best year yet for EV sales in the US and around the world," said Allan Wang, General Manager, North America at CATL. "Recent surges in demand require greater innovation in the manufacture and supply of parts and services to support vehicle electrification. Our new Detroit subsidiary, our first in North America, will allow us to serve local needs. By locating close to our customers, we will be able to better understand their needs and improve our global supply chain. We look forward to providing more tailored customer service to our US-based partners and are continuously looking for new partnerships and opportunities in the local market to further the adoption of EVs and other e-mobility solutions."

The Company has entered a series of partnership agreements with world-renowned car manufacturers including BMW, Volkswagen, Daimler, and Jaguar Land Rover, taking the production of EVs to new heights or safety and efficiency by leveraging the advantages of its market-leading technology:

Safe performance: Featuring a complete battery safety management system to improve performance, CATL products have passed more than 270 abuse tests, including active and passive protection tests to guarantee user safety.
Energy density: CATL's battery systems have achieved an energy density of 160Wh/kg, and are continuously improving. By 2020, the Company expects to achieve a single cell energy density of 300Wh/kg and a system energy density of 240Wh/kg.
Battery life-cycle: CATL has been able to identify several key factors affecting the life of a battery cell and has taken measures to extend its life as much as possible. For example, CATL's long-life endurance battery can achieve up to 15,000 cycles without the need for lithium titanate material, reducing life-cycle costs.
Fast Charging: Using NCM or LFP materials, CATL has discovered that it is possible to achieve a 90% charge in 15 minutes. This technology has since been incorporated as standard and is being mass produced by CATL.

In May 2018 the McKinsey Electric Vehicle Index reported that global sales of new EVs had surpassed 1 million units for the first time in 2017. In the US, this represented a rise in fully electric car sales of 47%. According to forecasts published by Energy Innovation, EVs will make up to 65% of new light-duty vehicle sales by 2050, with EV sales reaching up to 75% by 2050.

CATL's mission is to create the safest and most reliable lithium-ion EV batteries and energy storage solutions that appeal to a global market. The opening of its fourth international subsidiary represents a further milestone for the company and a marked expansion in CATL's global footprint driving new energy innovation throughout the world.

About Contemporary Amperex Technology Co., Limited

Founded in 2011, Contemporary Amperex Technology Ltd. (CATL) is an international manufacturer and service provider of lithium-ion batteries for e-mobility and energy storage. CATL is ranked first in the global vehicle power industry with 11.84 GWh shipped in 2017. Headquartered in Ningde, China, CATL has more than 15,000 employees and branch offices in Shanghai, Kiangsu, Qinghai and Beijing and international offices in the United States, France and Germany. For further information, please visit http://www.catlbattery.com/en.

SOURCE Contemporary Amperex Technology Co., Limited (CATL)