CATL considering North American battery factory

CATL is considering opening up an 80 GWh EV battery plant somewhere in North America.

As per reporting by Bloomberg, the company is considering sites for a massive $5 billion plant.

The facility would eventually employ as many as 10,000 workers and supply multiple companies with EV batteries.

Executives from CATL travelled to Mexico earlier this month. The company is also considering sites in the United States and Canada but has concerns about perspective labour force and trade issues.

CATL is the largest battery maker in electric vehicles and currently has about a 30 per cent share of the global EV battery market.

Opening up a North American factory would be a smart move by CATL.

They avoid the steep tariffs with manufacturing and shipping out of China to North America.

They could also expand their current client base to include major automakers and EV start-ups throughout North America.

Currently CATL supplies Tesla, Daimler Truck Holding, BMW, BAIC and Stellantis.

According to sources, CATL would build both LFP and nickel-manganese-cobalt batteries at the facility.

CATL currently has 145 GWh of battery capacity. However, the company is in the process of building or announcing another 579 GWh to come online by 2026.

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