financetom
Business
financetom
/
Business
/
CATL in talks with Tesla, global automakers for US licensing, WSJ reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CATL in talks with Tesla, global automakers for US licensing, WSJ reports
Mar 25, 2024 10:32 AM

(Reuters) - Chinese electric-vehicle battery maker CATL is in talks with Tesla and other unnamed automakers to license its battery technology in the U.S. instead of building its own plant there, the Wall Street Journal reported on Monday.

The scale of cooperation and details about what technology Tesla would license from CATL are still being discussed and will depend on the EV maker's cash flow, the report said, citing an interview with CATL Chairman Robin Zeng.

The Chinese company's existing partnership with Ford Motor ( F ) will be the model for similar cooperation with other U.S. carmakers, the report added.

Ford said in November it would scale back the investment for its Michigan battery plant to produce low-cost lithium-iron batteries based on technology licensed by CATL following pushback from U.S. lawmakers.

The WSJ report on CATL comes amid a global slowdown in EV demand and as U.S. lawmakers tighten their grip over the battery industry to prevent China-produced minerals or Chinese battery companies from winning electric vehicle tax credits.

Ford, CATL and Tesla did not immediately respond to Reuters requests for comment.

CATL is also working on faster charging batteries for Tesla and supplying machinery to the Elon Musk-led company's factory in Nevada, according to an interview Bloomberg News had with Zeng.

Zeng had told reporters earlier this month that the company was in discussions to set up research and development centers in Hong Kong to create new technologies that can be licensed abroad as domestic EV demand weakens.

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Devika Syamnath)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Chorus Aviation's Jazz Unit Invests in Emissions Reduction Initiative
Chorus Aviation's Jazz Unit Invests in Emissions Reduction Initiative
May 30, 2024
09:05 AM EDT, 05/30/2024 (MT Newswires) -- Chorus Aviation Inc. ( CHRRF ) subsidiary Jazz Aviation LP on Thursday announced an agreement with France-based, Expliseat, a manufacturer of ultra-light aircraft seats with a focus on sustainability, durability, and passenger comfort. A statement noted this agreement is part of a $10 million investment in Jazz's Air Canada Express cabin modernization for...
FDA Grants Candel Therapeutics' CAN-3110 Orphan Drug Designation to Treat Recurrent High-Grade Glioma
FDA Grants Candel Therapeutics' CAN-3110 Orphan Drug Designation to Treat Recurrent High-Grade Glioma
May 30, 2024
09:01 AM EDT, 05/30/2024 (MT Newswires) -- Candel Therapeutics ( CADL ) said Thursday that the US Food and Drug Administration has granted orphan drug designation to CAN-3110 to treat recurrent high-grade glioma. The orphan drug designation for CAN-3110 further reinforces the potential of this therapy and underscores the urgent need for novel and effective treatments for patients with rHGG,...
AtkinsRealis Says Awarded Owner's Engineer Services Contract for Belleville Terminal Redevelopment Project; No Financials Given
AtkinsRealis Says Awarded Owner's Engineer Services Contract for Belleville Terminal Redevelopment Project; No Financials Given
May 30, 2024
08:54 AM EDT, 05/30/2024 (MT Newswires) -- AtkinsRealis Group Inc. ( SNCAF ) , a fully integrated professional services and project management company with offices around the world, on Thursday announced that it had been awarded the contract to deliver Owner's Engineer (OE) services for the Belleville Terminal Redevelopment Design-Build Project in British Columbia by the BC Ministry of Transportation...
Jacobs Solutions to Design Phase 2 Expansion of Hamilton, Ontario, Wastewater Plant
Jacobs Solutions to Design Phase 2 Expansion of Hamilton, Ontario, Wastewater Plant
May 30, 2024
08:56 AM EDT, 05/30/2024 (MT Newswires) -- Jacobs Solutions ( J ) said Thursday it has been contracted by the City of Hamilton, Ontario, to provide engineering services for the Woodward Avenue Wastewater Treatment Plant Phase 2 Expansion. The $310 million project, part of the city's Clean Harbour Program, is slated for completion by 2032. The expansion will boost the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved