CHINA-ECONOMY: CHINESE COMPANIES INVEST HEAVILY IN ELECTRIC VEHICLE BATTERIES

China’s largest producer of electric vehicle batteries, The Fujian province-based Contemporary Amperex Technology Co. Ltd. (CATL), is boosting its capacity with investments totalling 39 billion yuan ($6 billion) in three centres around the country. It will spend as much as 22 billion yuan to increase the capacity of two of its battery manufacturing hubs in Jiangsu and Sichuan provinces, according to two statements filed with the Shenzhen Stock Exchange Tuesday. The construction will take as long as two years to complete. CATL will also invest as much as 17 billion yuan in a new lithium-ion battery project at its headquarters in the city of Ningde, Fujian. This will take as long as 26 months to come online.







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