7/20/2018

GAC, CATL Partner on Two Battery Ventures

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Two new battery ventures are being formed in China by domestic carmaker Guangzhou Automobile Group Ltd. and battery giant Contemporary Amperex Technology Ltd.

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Two new battery ventures are being formed in China by domestic carmaker Guangzhou Automobile Group Ltd. and battery giant Contemporary Amperex Technology Ltd.

GAC and CATL say both new entities will be headquartered in Guangzhou, each with its own shareholding structure and registered capital, the Shanghai Daily reports.

The larger venture, Amperex GAC Power Battery Co., will develop, make and sell lithium-ion batteries for vehicles and large-scale storage systems.

The second venture, GAC Amperex Power Battery System Co., will be devoted to developing and marketing battery systems, related technologies and consulting services.