China’s CATL to build electric car battery plant in Germany
Frankfurt — Chinese firm CATL will build a battery factory in central Germany to supply the country’s motor industry through its transformation towards electric cars, high-end manufacturer BMW said Monday. "We are very pleased that CATL has decided to build a factory for battery cells in Erfurt," capital of Thuringia state, the Munich-based firm said in a statement. More details of the deal were expected to emerge as Chancellor Angela Merkel welcomes Chinese Prime Minister Li Keqiang to Berlin for a meeting of both country’s cabinets. BMW said it had struck a deal with CATL to buy batteries worth €4bn — with €1.5bn of sales in Germany and €2.5bn in China. The Chinese firm will supply the cells for the electric Mini and for BMW’s coming "iNext" electric limousine, slated for production from 2021. CATL’s Erfurt factory will make Thuringia "one of the most important European locations for battery technology", regional economy minister Wolfgang Tiefensee told news agency DPA. Industrial...
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