China’s CATL is building a mammoth plant as it tries to expand abroad
The isolated city of Ningde, on the mountainous shoreline of the East China Sea, is best known for fishing and farming. Only recently have a few Starbucks and McDonald’s outlets begun to show up in this home to 3 million. When President Xi Jinping apprenticed here as a Communist Party chief in the 1980s, it was the poorest city on the coast. Now, however, Ningde should have Panasonic, Samsung SDI, and LG Chem, the Big Three makers of lithium-ion batteries for electric vehicles, running scared.
For seven years, Ningde has been home to the sprawling headquarters of Contemporary Amperex Technology Ltd., or CATL, which has quickly become China’s EV battery leader and is setting its sights on the rest of the world. On the landfilled mudflats across a lake from its main campus, the company is building a $1.3 billion battery production complex that will be second in size only to Tesla Inc.’s massive Gigafactory in Sparks, Nev., enabling it to outstrip the capacity of other suppliers. CATL plans to finance construction partly by going public as soon as this year, selling a 10 percent stake that would value it at about 130 billion yuan ($21 billion). The next targets: expansion in Europe and a toehold in the U.S.
この記事は Bloomberg Businessweek の February 12, 2018 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Bloomberg Businessweek の February 12, 2018 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Instagram's Founders Say It's Time for a New Social App
The rise of AI and the fall of Twitter could create opportunities for upstarts
Running in Circles
A subscription running shoe program aims to fight footwear waste
What I Learned Working at a Hawaiien Mega-Resort
Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.
How Noma Will Blossom In Kyoto
The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking
The Last-Mover Problem
A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps
Tick Tock, TikTok
The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban
Cleaner Clothing Dye, Made From Bacteria
A UK company produces colors with less water than conventional methods and no toxic chemicals
Pumping Heat in Hamburg
The German port city plans to store hot water underground and bring it up to heat homes in the winter
Sustainability: Calamari's Climate Edge
Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment
New Money, New Problems
In Naples, an influx of wealthy is displacing out-of-towners lower-income workers