CATL Set to Increase Annual Battery Capacity to 50GWh by 2020
Contemporary Amperex Technology (CATL), a China-based maker of Li-ion power batteries used in electric vehicles, plans to expand annual production capacity to 50GWh at the end of 2020, according to the company.
CATL will invest CNY14.06 billion (US$2.20 billion) to set up a Li-ion power battery factory to increase its annual production capacity by 24GWh as well as in R&D of power and energy-storage batteries, with the factory to be completed in 2021. CATL has raised nearly CNY5.352 billion for the two projects, with the gap of CNY8.708 billion to be covered by equity capital and bank loans.
CATL has become a power battery supplier for several China-based automakers, including Yutong Bus, SAIC Motor, BAIC Motor, Geely Auto, Fujian Motor Industry, Dongfeng Motor and Changan Automobile, as well as China-based rolling stock maker China Railway Rolling Stock (CRRC). In addition, CATL has entered into supply chains for international automakers such as BMW and Volkswagen.
CATL's R&D expenses accounted for 4.93% of the company's consolidated revenues in 2015 and th proportion increased to 7.62% in 2016 and 8.16% in 2017. The company applied for 226 patents in 2015, 691 ones in 2016 and 849 ones in 2017. As of the end of 2017, CATL had obtained 907 patents in China and 17 ones from other countries and had R&D staff of 3,425 members of which 119 ones held Ph.D degrees and 850 ones held master degrees. CATL has set up Li-ion battery laboratories and a testing/certification center certified by China National Accreditation Service for Conformity Assessment.
According to China-based Gaogong Industry Research Institute (GGII), CATL recorded power battery sales of 2.19GWh in 2015, 6.80GWh in 2016 and 11.84GWh in 2017. In 2017, CATL surpassed Japan-based Panasonic and China-based BYD to become the globally largest producer of power batteries.
Global sales volume of new energy-powered cars increased from 51,000 in 2011 to 1.621 million in 2017 and will keep increasing to 6 million in 2022, GGII said. In the China market in particular, such sales volume rose from 75,000 in 2014 to 777,000 in 2017. Global demand for power batteries will grow from 69GWh in 2017 to 325GWh in 2022 and China-based power battery makers' combined output will hike from 44.8GWh in 2017 to 215GWh in 2022, GGII indicated. (www.chinatrucks.com)
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