In a press release dated June 18, CATL announced that it has broken ground on a new battery plant along with its partners BAIC Group, Xiaomi Group and Beijing Energy Group. Called the Beijing Times Battery Base project, it is designed according to the high standards of "Lighthouse Factory + Zero Carbon Factory" and adopts CATL's most advanced high-beat, high-automation, and high-flexibility production lines.
After completion, it will provide stable mass-produced, high-quality battery products for auto companies such as BAIC and Xiaomi.
In March this year, it was reported that BAIC, CATL and Xiaomi are planning to set up a joint venture, named Beijing Era New Energy Technology Co. Ltd., for manufacturing battery cells, with an investment 1 billion yuan, ($138 million). CATL reportedly holds a majority stake of 51%, followed by BAIC with 39% and Xiaomi Auto with 5%.
The companies have not disclosed any further information about the total capacity of the plant or the start of production timeline.
While BAIC is a leading automaker, Xiaomi is a new entrant in the automotive industry. Recently, Xiaomi has launched its Xiaomi SU7 electric vehicle.
