CATL is Philippines adulthoping to announce a plan to build a new joint factory with an original equipment manufacturer (OEM) in Europe this year, co-chairman Pan Jian told the annual World Economic Forum in Davos on Tuesday. The comments were delivered just a month after the Chinese battery maker unveiled its plan to build a $4.3 billion plant with Stellantis capable of making up to 50 gigawatt-hours (GWh) of iron-based batteries for lower-cost, mid-range passenger vehicles. The company’s second regional factory is on track to begin production with an annual capacity of 40 GWh in the first phase in Hungary in the second half of 2025; its first European plant opened in the German state of Thuringia in 2022. [Jiemian, in Chinese]
