Worlds Largest Battery Maker Will Quadruple Production After Tesla Deal

The world’s biggest electric vehicle battery maker, CATL, will invest up to $3.7 billion to quadruple its production capacity for lithium-ion batteries used in cars and storage systems. In today’s report from Japan’s Nikkei, the financial publication tied CATL’s announcement with its plans to supply batteries to Tesla.

China’s CATL shipped the equivalent of 32.5 gigawatt-hours of automotive lithium-ion batteries in 2019. The company is the industry leader with a global share of 28%, according to South Korea’s SNE Research. It supplies batteries to Daimler, Honda, Toyota, Volvo, and Volkswagen.

SanJoseDriver - 2/28/2020 9:58:48 PM

0 Boost

Since most of their cars are built in the US and most of their investments, real estate, revenue, and employees are in the US, not sure why you would say that. In fact, only the cheap Model 3s are built in China, the premium models are imported from the US along with the S and X.

skytop - 3/1/2020 1:05:10 PM

+3 Boost

IBM has recently announced a new battery technology that surpasses the lithium ion battery. Additionally, the lithium ion battery is extremely damaging to the environment when they are disposed of. The new IBM battery is completely harmless to the environment.

skytop - 3/1/2020 8:13:04 PM

0 Boost

IBM announces a new breakthrough battery technology that will make lithium-ion batteries the dangerous things of the past.

https://www.techrepublic.com/article/ibm-announces-battery-technology-breakthrough/

SanJoseDriver - 3/1/2020 10:28:57 PM

+2 Boost

A lot of breakthroughs have been announced, but the real question is which can be put into mass production. Hopefully we'll all have solid state batteries by 2030, which would at least double range, cut costs in half, improve safety, and require very little space in the car.

MDarringer - 3/2/2020 8:16:52 AM

0 Boost

Indeed. Just because something exists, does not mean it is ready to deploy. This is why I would not want to own an EV. The technology will be leaping kind of like what happened with computers i.e. new generations happening that render the previous generation completely obsolete. Lease and dump makes more sense.

SanJoseDriver - 3/3/2020 5:14:33 AM

+1 Boost

True, but imagine what's going to happen to the value of ICE vehicles when the majority whole market shifts to EVs. Even outdated EVs will fair better than ICE cars, where new sales might even be banned in some countries by the end of the decade. Leasing seems like a smart choice over the next 5 years unless you get a car that is easily upgrade-able.

MDarringer - 3/3/2020 8:35:55 AM

+1 Boost

You love wild suppositions don't you?

SanJoseDriver - 3/4/2020 1:19:22 AM

+1 Boost

I think it's 99% certain, I would bet on it. ICE is the next CRT. I remember getting a $4k top-of-the line CRT TV that I couldn't give away a few years after flat-screen monitors the norm. Had to pay to get rid of it. Not saying it will be that bad, but depreciation is going to be insane for ICE in a few years.