CATL Global

About 2,000 Chinese workers will participate in the factory's construction, with production expected to start by late 2026, according to Reuters.

CATL's first battery swap station in Hong Kong is set to start operations soon, with the company planning to expand to six stations by the end of 2026.

The facility is CATL's second European plant besides its German operation, with an annual capacity target of 100 GWh.

The plant is expected to have a total battery capacity of 15 GWh, enough to power 250,000 to 300,000 vehicles.

CATL has already talked with carmakers about using battery swap technology in Europe, said its board secretary Jiang Li.

CATL's joint venture in Indonesia plans to build a battery cell manufacturing plant with an annual capacity of 15 GWh.

CATL currently has battery plants in Germany and Hungary, and last month announced plans for a new joint venture battery plant in Spain with Stellantis.

FAW Hongqi's E-QM5 based on CATL's battery swap solution will be put into service as an electric cab in the Hong Kong market.

The Spanish plant will be CATL's third in Europe, with a total planned investment of $4.26 billion and an annual capacity of up to 50 GWh.

CATL would consider building a plant in the US if Trump opens the door for Chinese investment in the US EV supply chain, the battery maker's chairman Robin Zeng said.