Lithium-ion Battery | CATL Plans to Expand 60 GWh Battery Capacity in Luoyang

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Lithium-ion Battery | CATL Plans to Expand 60 GWh Battery Capacity in Luoyang

Date：2024-09-10

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Keyword tags： Lithium-ion Battery EV APAC

CATL announced that the company, along with the Luoyang municipal government and Guohong Group, signed an agreement on September 9, 2024, to further strengthen and deepen cooperation. According to the agreement, the company plans to add a second phase to the existing CATL-Zhongzhou project, with an annual capacity of 60GWh. Additionally, the agreement also involves the termination of the exit arrangements related to Guohong Group's 20.8% stake in CATL-Sichuan, and CATL will also have the right to purchase the shares of CATL-Sichuan held by Guohong Group.

In September 2022, CATL officially announced its battery factory investment plan in Luoyang. The first phase of the base project, with an investment of 14 billion yuan, has partially started production this July, manufacturing CATL's star product, the Qilin battery. The additional 60GWh annual capacity of the second phase project is expected to support the production of 1 to 1.2 million electric vehicles.

CATL released the Kirin battery in 2022, which adopts the third-generation CTP (Cell To Pack) technology. It innovates in the battery structure by directly integrating the cells into the battery pack, significantly increasing the energy density of the battery and enhancing the driving range of electric vehicles.

In addition to the latest phase two project of the Henan Luoyang base, CATL has successively started the construction of two battery factories in Beijing and Sichuan within the year. The Beijing battery factory will mainly supply Xiaomi Automobile and BAIC Group in the future. This factory, jointly built by CATL, Xiaomi Automobile, BAIC Group etc., started construction in June this year and is planned to start production in 2026. The eighth phase project of CATL-Sichuan, with an annual production of 30 GWh of power batteries and supporting facilities, is expected to be completed and put into production in December 2025.

According to CATL's financial reports and public market data, by the end of 2023, CATL has been leading the global electric vehicle battery industry for seven consecutive years, with an installation volume of 259.7 GWh in 2023, accounting for a market share of 36.8%. In the first half of this year, CATL's battery production capacity has reached 323 GWh, a year-on-year increase of 27%; battery production reached 211 GWh, a year-on-year increase of 37%; battery installation volume reached 137.3 GWh, a year-on-year increase of 29.5%; and the battery production capacity utilization rate was 65.33%, an increase from 60.5% in the same period last year.

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