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According to the plan, the CATL Europe Plant will start construction this time with an area of 23 hectares. The production line includes cell and module products. It is estimated that the battery output of 14GWh will be achieved in 2022.

On May 13, Guoxuan Hi tech announced that Hefei Guoxuan, a wholly-owned subsidiary of the company, and TataAutoComp had recently signed a joint venture agreement, and the two parties proposed to jointly invest in India to establish a joint venture company, in which Hefei Guoxuan contributed INR 40 million in cash and TataAutoComp contributed INR 60 million in cash.

The registered capital of the joint venture company is not less than 500000 Indian rupee (about 48800 yuan based on the current exchange rate), and its important products include the design, development, verification and manufacturing of battery modules and battery packs, as well as Battery management system, which is applicable to various passenger cars and commercial vehicles within the region.

European, Japanese, and Korean battery companies begin to fight back

The tremendous achievements made by China's battery companies have made their European, Japanese, and Korean counterparts uneasy, so they began to fight back:

Let's talk about Europe first. Although Europe is the birthplace of Hyundai Motor Company industry with a long history, the development of new energy vehicles in China, Japan and South Korea has made rapid progress in recent years, especially in the field of power lithium-ion batteries.

It is expected that by 2040, the demand for batteries related to electric vehicles in Europe will reach 1200GWh per year. In order to ensure that the development of the electric vehicle industry is not constrained by other countries, Europe has gradually clarified the layout of the power lithium-ion battery industry in recent years. The major automobile manufacturing countries, led by Germany, are preparing to establish battery industry bases and battery alliances in Europe in order to avoid excessive dependence on foreign parts suppliers, in order to reverse the backward situation.

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