Battery

The deal is the first major investment in a European startup by a top Chinese global battery maker, with an initial focus on Central and Eastern Europe as well as Morocco.

SAIC's joint lab with QingTao completed tests to install first-generation solid-state batteries into prototype vehicles with a maximum range of 1,083 kilometers in the test vehicles.

Gotion's net profit for the first half of the year reached RMB 209 million, up 223.75 percent year-on-year.

In the LFP battery market, BYD topped the list with a 43.18 percent share in July, up from 39.61 percent in June, with an installed base of 9.35 GWh.

A lesser-known company, Jiangxi Judian, began construction on August 8 on a solid-state lithium battery project with an annual capacity of up to 10 GWh.

CATL's global share increased in January-June from January-May, while BYD's decreased slightly.

Eve Energy will set up a joint venture in Thailand under which it will build a battery production base with a capacity of at least 6 GWh.

The investment is to further improve the company's business layout, serve international customers and expand overseas business, Sunwoda said.

The customer is a globally recognized automaker headquartered in Germany with a portfolio of well-known car brands, Transimage said.

China recycled 115,000 tons of used power batteries in January-May, more than the total for the whole of last year.