Tesla's Battery Supplier CATL Signs 10-Year Agreement with Great Wall Motor

On June 2, CATL and Great Wall Motor reached a 10-year strategic cooperation agreement. According to the agreement, CATL and Great Wall Motors will promote new energy vehicles' scientific and technological progress together and help achieve China's 'Carbon Neutral' goal in 2060.

 In addition to the cooperation with Great Wall Motors, CATL expanded its global partnership with Daimler trucks on May 20, 2021. The company will supply lithium-ion battery packs for electric trucks scheduled for mass production in 2024. The two companies will also focus on high modularity and scalability characteristics and jointly design and develop a next-generation cell and battery pack. Robin Zeng, chairman of CATL, clarified earlier that the cooperation between the company and the downstream car companies is diversified, and the car companies can obtain power batteries through contract production lines and other ways to reduce costs further.

 In 2020 the whole year, the Ministry of Industry and Information listed more than 6,800 energy vehicle models. More than 3,400 types of power batteries are supported by CATL, accounting for 50%, ranking the top. At present, the company is deeply bound to mainstream electric vehicle enterprises. The power batteries of NIO, LXEV and other new car building forces are supplied by it, making it a truly leading power battery enterprise.