On May 22, Zeng Yuqun, Chairman of CATL, issued the 2024 No. 1 Presidential Office Document – a letter mobilizing for overseas expansion. In the letter, Zeng stated that despite the fierce competition in the domestic market, CATL’s global market share last year has caught up with LG, demonstrating vast potential for growth.
He also mentioned that the Licensing Royalty Service (LRS) technology licensing model promoted by CATL is attracting a wave of cooperation from international automakers. He hopes these collaborations will quickly take root, laying the foundation for CATL’s overseas journey over the next 5 to 10 years.
In addition, Zeng Yuqun personally steers the overseas layout and has invited Tan Libin, Huang Siying, Feng Chunyan, and Zeng Rong, the four co-presidents, to take charge of overseas sales, base operations and overseas supply chain construction, procurement, and other important tasks. They report directly to Zeng Yuqun and play a crucial role in building a decision-making system for a highly responsive chain.
At the beginning of this year, CATL’s overseas expansion has noticeably accelerated. As of the time of reporting, it has built or is building factories in Thuringia, Germany, Hungary, and Michigan, USA. At the end of last year, CATL collaborated with key suppliers to set up overseas factories.
Previously, CATL had announced plans for six overseas factories: a factory in Thuringia, Germany, a factory in Hungary, a factory in Michigan, USA (in collaboration with Ford), a factory in Nevada, USA (in collaboration with Tesla), a factory in Indonesia, and a factory in Thailand. Next, CATL will consider jointly building a battery factory in Spain with Stellantis, the auto group that owns brands such as Chrysler, Citroën, and Fiat, and consider building a battery cathode material factory in Morocco to supply its multiple battery factories in Europe.
SEE ALSO:Xiaomi Aims to Deliver 120,000 Cars as Its Annual Target
Sign up today for 5 free articles monthly!
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Pandaily – https://pandaily.com/catl-accelerates-overseas-expansion/
