Hyperdrive
Chinese EV Battery Giant Zeroes In on Its First Europe Plant
- CATL about to pick site in EU to take on LG Chem, Samsung SDI
- Germany, Poland, Hungary said to be countries being considered
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The Chinese supplier of electric-vehicle batteries that’s planning a local factory with enough capacity to surpass the output of Tesla Inc. has set its sights further: Europe.
Contemporary Amperex Technology Ltd. is close to picking one of three sites in the European Union for its first overseas plant, Chairman Zeng Yuqun said in an interview. The company is exploring Germany, Hungary and Poland for the plant, according to a person familiar with the plan who asked not to be identified as the information isn’t public.