June 21, 2024

Chinese Battery Giant CATL Collaborates with Tesla to Advance EV Battery Technology, Despite Trade Tensions

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Tesla and CATL Collaborate on Advancing Faster Charging Battery Technology

The world’s largest battery manufacturer, CATL, is collaborating with Tesla to develop new battery technologies that could result in faster-charging electric vehicle batteries. Despite trade tensions and restrictions on Chinese technology in the United States, CATL is unable to directly sell its batteries in the American market. Instead, the company is engaging in licensing, royalty, and services agreements with partners to license its battery technology for a fee.

CATL has a significant supply deal with Tesla and also supplies batteries to major automakers like BMW and Mercedes-Benz. In an interview with Bloomberg, the founder of CATL revealed that there is room for cost reduction in achieving Tesla’s goal of producing a vehicle priced at under $25,000 while maintaining its market share in the growing EV battery market. It was reported earlier this year that Tesla plans to open a small battery-manufacturing plant in Nevada using CATL equipment, with minimal involvement from the Chinese company’s staff in the initial setup process.

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