Published by maria gbaf
Posted on August 13, 2021
1 min readLast updated: February 17, 2026
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SHANGHAI (Reuters) – Chinese battery giant CATL said it was planning a private share placement to raise up to 58.2 billion yuan ($8.98 billion) to fund six projects aimed at boosting its production capacity of lithium-ion batteries.
The massive fundraising comes as the Ningdo-based firm – formally Contemporary Amperex Technology Co Ltd – expands battery manufacturing capacity around China and in Germany.
It will also be used to boost capital, CATL said in a statement late on Thursday.
As global auto industry accelerates transformation towards electrification, CATL is supplying electric vehicle batteries to a swathe of automakers including Tesla Inc, Volkswagen AG and Geely. It is competing with Japan’s Panasonic and South Korean LG Chem.
CATL currently has a market capitalisation of over 1.1 trillion yuan ($169.85 billion).
($1 = 6.4764 Chinese yuan)
(This story corrects to “1.1 trillion yuan” from “1.1 billion yuan” in paragraph 5)
(Reporting by Brenda Goh and Yilei Sun; Editing by Christopher Cushing and Himani Sarkar)
CATL is planning to raise up to 58.2 billion yuan, which is approximately $8.98 billion.
The funds will be used to finance six projects aimed at boosting CATL's battery production capacity.
CATL supplies electric vehicle batteries to several automakers, including Tesla Inc, Volkswagen AG, and Geely.
CATL currently has a market capitalisation of over 1.1 trillion yuan, which is about $169.85 billion.
CATL is expanding its battery manufacturing capacity in China and Germany.
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