Battery

The joint venture will manufacture and sell products including battery modules and outdoor battery cabinets, as well as build energy storage system projects there.

CATL and BYD both saw their share of the Chinese power battery market increase slightly in December.

CATL's share in the January-November period was higher than the 35.7 percent it achieved in the same period last year, and higher than the 36.9 percent in the January-October period.

Located in the Silicon Valley area, the plant is Gotion's first US battery pack production line, targeting the Americas energy storage system market.

The two models feature sodium-ion batteries from Farasis Energy and Hina Battery, marking a step closer to large-scale use of the new, lower-cost batteries.

The battery pack, which is expected to be available in volume in the first quarter of 2024, will first be fitted to the Good Cat model of Great Wall Motor's Ora brand.

Rept's latest market capitalization of HK$42.4 billion overtook CALB as the highest lithium battery maker listed in Hong Kong.

CATL's share increased by 1.1 percentage points in November from October, while BYD's decreased by 3.5 percentage points.

Gotion's joint venture plant in Thailand has a planned capacity of 2 GWh of battery packs per year for the first phase, which will be expanded to 8 GWh in the future.

CATL's share continues to rank first in the world and remains the only global battery supplier with a market share of more than 30 percent.