CATL

The JV will cater to the ride-hailing market and provide battery swap services for NEVs, CATL said.

The price war for power batteries is intensifying, with the world's two largest battery makers reportedly pushing battery costs down further.

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.

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

The two parties are exploring the possibility of forming a joint venture to further support Stellantis' electrification strategy.

CATL's share of the Chinese EV battery market increased by 3.4 percentage points in October compared to September, while BYD's share decreased by 0.77 percentage points.

The first phase of CATL's Guizhou production base has been put into operation with an annual capacity of 30 GWh, capable of producing a cell in 1 second and a pack in 2.5 minutes.

CATL is supplying batteries for the Jiyue 01, which will be officially launched on October 27.

CATL's net profit fell 4.3 percent in the third quarter from the second quarter, as its share in China slipped and fell in September to a new low since April last year.