> GM to work closely with battery maker CATL in its China EV push
GM to work closely with battery maker CATL in its China EV push
1 min read.Updated: 04 Jun 2020, 03:02 PM IST
General Motors had said in March it would invest $20 billion by 2025 in electric and automated vehicles as it races to catch up with Elon Musk's Tesla in the sector.
General Motors will "work very closely" with Chinese electric vehicle battery maker Contemporary Amperex Technology Ltd (CATL) as it ramps up electric production in the world's biggest auto market, a senior executive said.
The Detroit automaker said in March it would invest $20 billion by 2025 in electric and automated vehicles as it races to catch up with Elon Musk's Tesla Inc in the sector.
"We have already established a good working relationship and supply agreement with CATL," said Julian Blissett, GM's China president. "We will work very closely with CATL in the future."
"We are not planning on importing any major components for new energy vehicles. The drive units, batteries, motors, etc, will be made locally in China," Blissett told local media on Wednesday, according to the transcript provided by GM.
Co-operation with GM would help cement Ningde-based CATL's dominant position in the Chinese EV battery market, where it competes with smaller players like BYD and Guoxuan High-tech.
The group, which already has supply deals with Tesla and Volkswagen, did not immediately respond to a request for comment.