SAIC CATL JV plans USD1.6 billion to double EV battery capacity at Liyang plant in mainland China
JV partners initially invested CNY10 billion in the new production plant
United Auto Battery Cooperation, the joint venture (JV) between Chinese automaker SAIC and battery supplier Contemporary Amperex Technology Co. Limited (CATL), has decided to invest CNY10.5 billion (USD1.6 billion) to double electric vehicle (EV) battery production capacity at its plant in Liyang, Jiangsu province, Yicai Global reported on 26 February.
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