CATL Subsidiary to Build Power Battery Project in Indonesia

Contemporary Amperex Technology Co., Limited (CATL), China’s leading power battery manufacturer, announced on Friday that in order to ensure its supply of key upstream resources and raw materials, Contemporary Brunp Lygend Co., Ltd. (Ningbo Puqin), a subsidiary of CATL, and its partners PT Aneka Tambang Tbk. and PT Industri Baterai Indonesia have jointly invested in the construction of a power battery industry chain project in the Indonesian Industrial Park.

At present, the total investment amount determined for the project does not exceed $5.968 billion. This initiative mainly involves the construction of a whole battery industry chain integrating lateritic nickel ore development, pyrometallurgy, hydrometallurgy, ternary battery materials, battery recycling and ternary battery industries, including six sub-projects in total.

Ningbo Puqin was established by Ningbo Bangpu, Ningbo Lygend and Ningde Ruiting Investment in October 2020. The company focuses on promoting the whole industry chain cooperation in the new energy battery field, including projects ranging from Indonesian mines and nickel ore smelting to materials to batteries.

Ningbo Bangpu, a holding subsidiary of CATL, is a platform established specifically to invest in overseas power battery industry chain projects. Ningde Ruiting Investment is an affiliated company of Ningbo Bangpu. Meanwhile, Ningbo Lygend has a Rotary Kiln-Electric Furnace (RKEF) pyrometallurgical ferronickel smelting plant in China, and has successfully operated several nickel mining projects and a High Pressure Acid Leach (HPAL) hydrometallurgical project of laterite nickel ore in Indonesia.

South Korean automotive industry research firm SNE Research published data on power battery shipments for the first two months of this year in early April, showing a total shipment volume in the period was 53.5 GWh, an increase of more than 100% from the previous year. Among them, shipments and market share of CATL were 18.4 GWh and 34.4%, respectively, ranking first, further increasing its market share compared with the same period last year.

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