CATL Negotiates to Raise $1.5B for Global Supply Chain Expansion

TapTechNews July 12th news, according to the report of Financial Times today, CATL, the world's largest electric vehicle battery manufacturer, is currently negotiating with overseas sovereign wealth funds and the private offices of super-rich people, planning to raise a fund of 1.5 billion US dollars (TapTechNews note: currently about 10.902 billion RMB) to establish its global supply chain.

The report citing informed sources said that the offshore fund will help CATL provide financial support for expanding the production in its European and other overseas markets.

Informed sources indicated that CATL plans to contribute together with global investors, and CATL's contribution accounts for about 15% of the fund. The main goal of this fund is to provide funds for CATL's suppliers in Europe.

Another informed source disclosed that CATL has approached the families behind Mercedes-Benz and other automakers to seek investment. But Mercedes-Benz did not comment on this.

According to its statement, the purpose of this fund is to promote the global energy transition through the support of global like-minded partners, and added that the fund is mainly to raise funds from overseas investors.

The expansion plan of CATL in Europe comes at a time when the EU plans to levy tariffs on imported electric vehicles from China. Analysts said that this move will encourage more Chinese automakers to set up factories and produce cars locally.