Chinese electric car battery company China Aviation Lithium Battery Technology (CALB) announced on Thursday that it had reached agreement to create a factory in Portugal????????
In a statement to the Hong Kong stock exchange, CALB disclosed the signing on Wednesday of a memorandum of understanding with a subsidiary of the Portuguese Investment and Foreign Trade Agency (AICEP). The agreement with AICEP Global Parques contemplates the acquisition of “surface rights, with the aim of setting up a world-class, highly intelligent, computerized and automated factory, with zero carbon emissions”the company said.
CALB “has not yet signed a legally binding agreement”, so “the cooperation contemplated in the memorandum of understanding may or may not take place”. The company also said that the eventual installation of a factory in Portugal would be part of a strategy to create “industrial bases in Europe.”
In December 2021, CALB announced the signing of an agreement with the German consultancy Drees & Sommer to plan the first factory in Europe, which could produce, per year, batteries with a total capacity of 20 GWh.
According to the industry association China Automotive Power Battery Industry Innovation Alliance, CALB was in 2021 the third largest Chinese manufacturer of batteries for electric cars.
According to Bloomberg, analysts at Nomura Holdings anticipate the Jiangsu province-based company will become, next year, one of the largest in the world, reaching a production capacity of 145 GWh. Brand with which it will leave behind giants like the Chinese BYD, where Warren Buffett is a strong investor through his Berkshire Hathaway Energy and EVE Energy, another Chinese battery company.
Source: Observadora
