Catl

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Feb 28, 2020 Official
China's CATL aims to raise $2.85 billion for EV battery projects

It would pay for a big expansion in production capacity

CATL , China's top electric vehicle battery maker, said it aims to raise up to 20 billion yuan ($2.85 billion) 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. In a separate filing on Wednesday, the battery maker said it pl

Reuters
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