China's CATL aims to raise $2.85 billion for EV battery projects

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CATL , China's top electric vehicle battery maker, said it aims ...

A sign of Chinese battery maker Contemporary Amperex Technology Ltd is seen on its building in Ningde, Fujian province, China August 8, 2018. Picture taken August 8, 2018. REUTERS/Stringer

BEIJING - CATL , China’s top electric vehicle battery maker, said it aims to raise up to 20 billion yuan in a private placement of shares to fund its battery projects and boost working capital. The fundraising will help CATL to expand its battery-making capacity in Fujian, Jiangsu and Sichuan, as well as an energy storage research project, the company said in a filing to the Shenzhen stock exchange late Wednesday.

Source: Energy Industry News (energyindustrynews.net)

 

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