CATL plans to raise USD2.85 billion for EV battery initiatives

Corporate developments

Funds raised are expected to be used for an energy storage research project and expansion of manufacturing capacities in China

Chinese battery maker Contemporary Amperex Technologies (CATL) is planning to raise around CNY20 billion (USD2.85 billion) through private placement of shares, Reuters reported on 27 February, citing a company filing on Shenzhen stock exchange.

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