CATL is considering building a factory in the U.S._News Center Co., Ltd.

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Home > News Center Co., Ltd. > CATL is considering building a factory in the U.S.

News Center Co., Ltd.

CATL is considering building a factory in the U.S.

Publish Time：2024-11-16 View Count：33 Return to List

November 13, Reuters reported that Zeng Yuqun, founder and chairman of Ningde Times (300750.SZ), said in an interview that if President Trump were to open the door for China to invest in the electric vehicle supply chain, Ningde Times would consider establishing a factory in the United States.

It has been reported that Chinese electric vehicle and battery manufacturers have been excluded from the U.S. market due to the support for various trade protectionist measures by both the Democratic and Republican parties, including Trump, who initiated a broader trade war with China during his first term as President, beginning in 2017.

Trump aims to block Chinese car imports, but he remains open to Chinese automakers producing cars in the U.S. During an August interview, Trump said, "We will offer incentives for Chinese and other countries to build factories here and hire our workers if they want to sell cars here." These remarks sparked interest in CATL's expansion in the U.S. among Zeng Yuqun.

Currently, CATL's U.S. operations are limited to battery production technology licensing agreements. Ford Motor Company is constructing a factory in Michigan to produce low-cost iron-phosphate lithium batteries under a licensing agreement with CATL, which will be used in its Mustang Mach-E and F-150 Lightning pickup trucks.

Tesla has also reached a similar technology licensing agreement with CATL to produce batteries in Nevada. According to an insider, the battery production project is expected to commence in 2025, a timeline that was not previously reported.

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