Contemporary Amperex Technology Ltd (CATL), the world’s largest electric vehicle (EV) battery producer, informed it is in discussions with global investors to raise funds for building a worldwide supply chain. This move aligns with CATL’s global strategy to promote green energy, stated the company, headquartered in Ningde, Fujian province, China.
Sources informed that the company may seek to raise approximately US$1.5 billion from various sources, including sovereign wealth funds, prominent global family investors, oil and gas refiners, and other manufacturers.
One potential investor is Porsche Ventures, the investment arm of the German luxury carmaker. Porsche Ventures recently launched its first renminbi-denominated fund with China International Capital Corp to invest in Chinese EVs and smart mobility companies.
CATL, holding a 37.5% share of the global EV battery market, has been a trailblazer in internationalising Chinese EV supply-chain vendors. The company supplies batteries to major global brands, including Tesla, BMW, Ford Motors, and Volkswagen. Chinese companies, led by CATL, account for six of the world’s top 10 EV battery producers, collectively holding 64% of the global market in the first five months of this year.
In a statement to a leading local media house, the company officials said, “The purpose of the fund is to facilitate global energy transition, with the support of like-minded partners from all over the world. The fund aims to raise capital primarily overseas and has been in discussions with several potential investors.”
