CATL to build electric car battery cell factory in Thuringia, page-88

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tony2times

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10/07/18

17:37

Post #: 34258539
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Originally posted by sroyle ↑

It's official,
CATL contract to build Thuringia battery plant was signed on Monday during a visit to Germany by China’s Premier Li Keqiang.

BMW investing billions into China’s new battery-cell factory in Germany
"While Washington and Beijing trade barbs with each other over billions worth of import tariffs, German chancellor Angela Merkel welcomed the Chinese Premier Li Keqiang and his delegation to Berlin on Monday (July 9)."

"One of the most note-worthy announcements was the official go-ahead for China’s biggest battery maker, Contemporary Amperex Technology Ltd (CATL), to build a huge battery-cell factory in the eastern German state of Thuringia. The state’s economy minister, Wolfgang Tiefensee told the German Press Agency that the Chinese factory would help Thuringia become “one of the most important European locations for battery technology.”

"News of the battery factory has been swirling around for weeks, and BMW confirmed today that it had committed to sourcing €4 billion ($4.7 billion) worth of battery cells from CATL once the factory in Erfurt is up and running in 2021."

China's CATL to build its first European EV battery factory in Germany
BMW's purchasing head, Markus Duesmann also ruling out DRC cobalt supply:
"BMW is sourcing raw materials for the cells itself to pass to the battery makers, in particular cobalt, and is currently negotiating long-term contracts. Duesmann said BMW would only conclude contracts where inhuman conditions and child labor were ruled out. It said it was not sourcing cobalt from mines in Democratic Republic of Congo."

BMW also signed further JV deals with Chinese partner Brilliance Auto. Chancellor Angela Merkel along with China's Premier Li Keqiang at BMW signing ceremony in Germany (pop.82Mill).

View attachment 1187673

Possible this news may upstage Mayor Jenny Hill and Corey Cooney signing ceremony for Townsville (pop.185K).
View attachment 1187676

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CATL = boring old technology. A bit like your research.

Lots of space for Magnis and Listrom.

With 40 gigafactories needed for VW alone Listrom could very well be one or two of them.

MNS Price at posting: 36.5¢ Sentiment: Buy Disclosure: Held
13 Upvote

0 Great analysis

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