CATL said it had signed an agreement with BMW. Meanwhile, BMW declined to comment on the contents of the agreement.
Under the agreement, CATL will supply batteries for BMW electric vehicles for a decade.
CATL is reportedly looking for a location that will later be used to manufacture electric vehicle batteries in the United States. The plant is projected to meet the growing demand for electric vehicles including BMW. The new factory in the United States is expected to start production in 2026.
CATL itself is a supplier to many electric vehicle manufacturers for both passenger and commercial vehicles. CATL has supplied most of its products to other EV manufacturers, including Tesla.
On May 26, CATL announced that it would supply batteries to Solaris, a leading European electric bus manufacturer.
CATL was founded in 2011 and specializes in manufacturing lithium-ion batteries for electric vehicles, energy storage systems, and battery management systems (BMS).
CATL has a target production capacity of more than 500 GWh in 2025, and more than 800 GWh in 2030.