CATL, the world’s largest battery maker, and Beijing Hyundai have signed a strategic partnership agreement on the supply of EV batteries, CATL announced April 25. The agreement was signed on the sidelines of the Beijing Auto Show 2024.
Under the agreement, CATL will supply batteries for Beijing Hyundai's EV projects.
As a joint venture with a deep presence in China for 21 years, Beijing Hyundai has sold over 12 million vehicles in mainland China. Notably, the automaker has been partnering with CATL since 2017.
With the agreement between the two companies, Beijing Hyundai is expected to launch over 10 EV models that will be equipped with CATL's latest battery technology, including the battery maker’s cell-to-pack or CTP technology.
“CATL will leverage its technological advantages to work with Beijing Hyundai to create high-quality automotive products and support Beijing Hyundai's business growth in China. A shared focus on product development ensures a win-win for both companies,” CATL said in a statement.
CATL, which has established and strengthened its partnership with Hyundai over years, had signed a technology licensing and partnership agreement with Hyundai Mobis in October 2021. Under this partnership, CATL plans to introduce its CTP technology to Hyundai Mobis as well as support the latter in the supply of related CTP products not only in South Korea, but also worldwide.
