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05 03 2019 02

The battery cell manufacturer CATL and the state-owned Chinese car manufacturer FAW have founded a joint venture for the development, production and sale of lithium-ion batteries. It has a starting capital of two billion yuan (approx. 263 million euros).

The joint venture, CATL-FAW Power Battery Company, is 51 per cent owned by CATL and 49 per cent by FAW and is based in the Chinese province of Fujian. In addition to the main focus – the manufacture of batteries – the areas of consulting and after-sales service will also be considered.

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