CATL

CATL will supply ELMS with 42-kWh of lithium iron phosphate batteries using cell-to-pack (CTP) technology similar to that used in Nio's battery packs.

The investment will be used to build a site to recycle used battery materials and produce materials including lithium iron phosphate.

On July 29, CATL released its first-generation sodium-ion battery, saying that the energy density of a single cell has reached 160Wh/kg, which is the highest level in the world.

CATL's first European plant is under construction in Germany and aims to localize the production of lithium-ion batteries, the company said.

A bidding war is heating up between Chinese companies for a Canadian firm to get lithium needed for electric car batteries.

The project has a planned site area of about 1,300 mu (870,000 square meters).

If an affiliation agreement is not signed in the current year, the default annual supply for the following year will be 10 GWh.

The two have agreed on comprehensive strategic cooperation in areas including energy storage business, integrated PV and energy storage solutions, and carbon neutrality, JinkoSolar said.

They made suggestions around supporting the accelerated development of the industry and the achievement of the carbon-neutral goal of the automotive industry's carbon peak.

CATL's stock traded in Shenzhen was up over 5 percent at the opening, but has now turned down.