Tesla and Chinese battery manufacturer CATL have joined forces to develop new battery technologies that could significantly reduce the time it takes to charge electric vehicle batteries. The founder of CATL, the world’s largest battery manufacturer, confirmed in an interview with Bloomberg that the two companies are working together on this project.

CATL has already established a significant supply agreement with Tesla and serves as a battery supplier to major automakers such as BMW and Mercedes-Benz Group AG. However, due to US-China trade and technology conflicts and restrictions on Chinese technology used in US-made products, CATL is unable to sell its batteries directly in the United States. Instead, the company works under license, royalty and service (LRS) agreements with partners to license battery technology for a fee.

In addition to working with CATL, Tesla is focused on maintaining its market share in the growing global EV battery market and producing vehicles priced under $25,000. According to reports, there is potential for cost reduction depending on the target price for the car of $25,000. The founder of CATL also confirmed that Tesla plans to open a small battery factory in Nevada using CATL equipment, with minimal involvement from the Chinese company. This collaboration between CATL and Tesla aims to develop new electrochemical technology for faster battery charging.

By Samantha Johnson

As a dedicated content writer at newspuk.com, I immerse myself in the art of storytelling through words. With a keen eye for detail and a passion for crafting engaging narratives, I strive to captivate our audience with each piece I create. Whether I'm covering breaking news, delving into feature articles, or exploring thought-provoking editorials, my goal remains constant: to inform, entertain, and inspire through the power of writing. Join me on this journalistic journey as we navigate through the ever-evolving media landscape together.

Leave a Reply