Hyperdrive
China’s CATL Wins Deal to Supply Batteries to Tesla
- Two-year contract runs from July 1, is still non-binding
- Deal is a boost to CATL as it competes with LG Chem, Panasonic
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Contemporary Amperex Technology Co. Ltd. won a two-year contract to supply batteries to Tesla Inc., a boon for the Chinese giant competing against rivals such as Panasonic Corp. in the electric-vehicle market.
CATL disclosed the contract that runs from July 1, 2020, until June 30, 2022, in a statement Monday. CATL said the so-called production pricing agreement is still non-binding, and there is no certainty for the quantity that Tesla will purchase.