CATL Advances Battery Production and Swapping Initiatives

Contemporary Amperex Technology Co. Ltd. (CATL) is enhancing its battery swapping ecosystem through a strategic partnership with China United Property Insurance Company, addressing industry challenges and promoting consumer trust. In parallel, CATL has entered a joint venture with Stellantis to invest 4.1 billion euros in a lithium iron phosphate battery plant in Zaragoza, Spain, slated to begin production in 2026, marking CATL's third facility in Europe. This venture represents a shift to a 50-50 joint ownership model, diverging from CATL's typical practices in China. In November 2024, CATL maintained its dominance in the Chinese battery market, achieving the largest market share with 28.7 GWh of installed capacity for the month. Overall, China's battery production is set to exceed 1 TWh by year-end, with lithium iron phosphate batteries leading the growth. Combined, CATL and BYD controlled nearly 70% of the market share in 2024, underscoring their significant presence in the industry.