CATL Shares Surge Over 4% on Ford's Entry into Battery Energy Storage Market with Technology License

Stock News05-14 09:31

CATL (03750) opened sharply higher, gaining over 4%. As of writing, the stock is up 4.01% to HK$700, with a turnover of HK$297 million. The move follows news that Ford Motor has established a new subsidiary, Ford Energy, to enter the battery energy storage system market. Ford Energy aims for an annual production capacity exceeding 20 GWh, targeting utility companies, large data centers, and commercial-industrial users. Initial product deliveries are scheduled to commence by the end of 2027. According to plans, the company will retrofit its existing manufacturing facility in Kentucky to produce lithium iron phosphate batteries. It is reported that the technology is licensed from CATL. Additionally, 21Vianet Group announced the introduction of strategic investors linked to CATL. Upon completion of the transaction, the new shareholders will hold approximately 38.1% of the company's shares. Josh Sheng Chen, Founder, Executive Chairman, and Interim CEO of 21Vianet Group, stated that the company will collaborate with strategic partners to drive end-to-end innovation in the next-generation AI data center industry.

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