Market Chatter: CATL Looks to Develop Power Grids, Electric Vehicle Platforms

MT Newswires Live11-14 10:15

Contemporary Amperex Technology (SHE:300750), or CATL, is looking to develop and manage "zero carbon" electric grids, as the company aims to build independent energy systems that can power a massive data center or even a city, Reuters reported Wednesday.

CATL founder Robin Zeng told the news agency that the above business could be 10 times larger than the electric-vehicle battery supply market, which the company leads with a 37% global share.

The electric vehicle battery manufacturer is also planning to launch an off-the-shelf electric vehicle platform that would cut development costs and open the industry to new competitors, according to the report.

Other plans include the launch of a micro-grid pilot project at a copper mine in the Democratic Republic of the Congo in 2025 with CMOC Group (SHA:603993) and a longer-term project that would combine energy storage with solar and offshore wind turbines with the province of Hainan, Reuters wrote.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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