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CATL: China’s latest unicorn and a battery powerhouse

SHENZHEN – Chinese power battery supplier CATL, or Contemporary Amperex Technology Co., Ltd., debuted on Shenzhen’s ChiNext start-up board (stock number 300750) on June 11. The event was accompanied by tremendous fanfare as anticipated from buyers and media alike. Within half an hour of the market opening that morning, the

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Continental-CITC JV looks to become global top three 48V battery systems supplier by 2025

SHANGHAI – Continental and Chinese automotive supplier and battery manufacturer Sichuan Chengfei Integration Technology Co., Ltd. (CITC) has established a joint venture through their respective subsidiaries for the development and production of 48V battery systems, and the partners wants it to become one of the top three suppliers in that

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ElringKlinger and Chengfei Integration Technology reach agreement for battery module JV

DETTINGEN/ERMS, Germany – ElringKlinger AG said in a statement on November 27 that it signed a framework agreement with Sichuan Chengfei Integration Technology Co., Ltd. (CITC) on November 24 to establish a joint venture to develop, produce and distribute lithium-ion battery modules for the global automotive market. The agreement initially

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IC engines still control 97 percent of market in 2020, says Roland Berger

PARIS – European consultants predict that hybrid and electric cars will be a small part of China’s market in 2020, but an explosion of inexpensive microvans in rural China after 2030 could be a significant exception. “Microvans costing less than $10,000 will be an enormous segment,” said Eric Chamarnaud, vice president

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Coslight to produce pure electric buses within two years

HONGKONG – The Hong Kong-listed battery manufacturer Coslight Technology International Group Co., Ltd. (Coslight) intends to produce pure electric buses within two years, revealed Coslight chairman Song Dianquan, auto.gasgoo.com reported. In addition, after the production lines in its Harbin base expanded, the annual battery production capacity will increase to 400,000

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Diversified market demands different electrification solutions

In order to have a foothold in China’s burgeoning and potentially the world’s largest electric vehicle market, OEMs are launching electrified vehicles one after another, with diversified approaches and products. Domestic carmakers including BYD, Chery, Chang’an and Zotye have released hybrid or pure electric models based on their flagship economy

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Thunder-Sky and FAW sign deal to develop electric buses

CHANGCHUN, Jilin – Jilin Thunder-Sky New Energy Co., Ltd., an affiliate of Hong Kong-listed Thunder-Sky Battery Co., Ltd., has signed a strategic cooperation deal with FAW Group to jointly develop electric buses, according to a Thunder-Sky announcement on January 24. Thunder-Sky, which mainly manufactures iron and lithium batteries, said in

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