Market Chatter: CATL Pledges Suppliers Support for Battery Innovation

MT Newswires Live12-16

Contemporary Amperex Technology or CATL (SHE:300750) pledged to suppliers it will give them financial grants to expedite innovation in battery materials and equipment, Reuters reported Friday, citing a letter seen by the newswire.

The world's largest battery manufacturer plans to shoulder suppliers' research and development expenses and make advanced payments to ensure the release of the technologies, the report said.

CATL also plans to aid suppliers with certification to help hasten the approval and production of new battery materials, the report added.

The letter, dated just December 2024, was authentic, according to Reuters, citing CATL.

(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.)

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