CATL's North American battery business "connects two cities"
The international market expansion of Ningde era will go to two cities.
First, it signed a two-year supply agreement with Lightning eMotors, an American commercial electric vehicle manufacturer, to supply the latter with two configurations (30kWh and 35kWh) of battery packs in CATL, with a total supply of 175MWh. LightningeMotors plans to start producing electric vehicles equipped with CATL battery packs in March 2022.
The second is to sign a long-term supply agreement with Phoenix Motorcars, a subsidiary of Solar Power (SPI.US), and the LFP battery system will be delivered in the first quarter of 2022.
The two agreements were executed through Coulomb Solutions, Inc. (CSI), the North American distributor of CATL's commercial vehicle battery systems.
Just last month, CATL just won two major US customer orders: supplying more than 15GWh for US electric start-up Fisker in three years; supplying US commercial electric vehicle manufacturer ELMS battery until 2025.
The background of CATL's record in the U.S. market is that the U.S. new energy vehicle market is experiencing unprecedented enthusiasm. In May of this year, U.S. President Biden announced a 174 billion electric vehicle support plan; in August, Biden signed an executive order that by 2030, the sales of electric vehicles in the United States should account for 50% of total passenger car sales.
According to forecasts, in 2030, the penetration rate of new energy vehicles in the overall market in the United States will exceed 12 million units, with a penetration rate of more than 50%, corresponding to a power lithium-ion battery installed capacity of about 1,430GWh.
Based on the accelerated pace of global electrification transformation, the supply chain of power lithium-ion batteries in Europe and North America is weak. As a global leader in power lithium-ion batteries, CATL is undoubtedly an important option for its inclusion in the supply system.
According to the statistics of Gaogong Lithium Battery, since the beginning of this year, CATL has cooperated and increased cooperation with international car companies such as Hyundai, Volkswagen, Daimler Trucks, Rolls-Royce, Tesla, BMW and Fisker.
Benefiting from the previous global strategic deployment, CATL's overseas business segments (including power and energy storage) have gradually entered the performance realization period. In the first half of this year, overseas revenue was 10.2 billion yuan, a year-on-year increase of 355.5%, exceeding the total overseas revenue last year.
In addition to winning battery supply orders, CATL is also increasing its technological output overseas.
On October 27, CATL signed a technology license and cooperation agreement with Hyundai Mobis, authorizing Mobis to use CTP technology and supporting Mobis' supply of CTP-related battery products in Korea and around the world; 11 In this month, foreign media reported that CATL has set up a branch in South Korea to provide technical support for power lithium-ion batteries for Hyundai Motors.
