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CATL Plans $1.9 Billion Battery Project in China’s Luoyang City

The Contemporary Amperex Technology Co. headquarters building in Ningde, Fujian province, China.

The Contemporary Amperex Technology Co. headquarters building in Ningde, Fujian province, China.

Photographer: Qilai Shen/Bloomberg

Contemporary Amperex Technology Co. Ltd., the world’s biggest battery maker for electric cars with almost 35% of the market, plans to build a 14 billion yuan ($1.9 billion) manufacturing base in the city of Luoyang in the central Chinese province of Henan.

Construction of the project will take up to three years, CATL said in a statement to the Shenzhen stock exchange Wednesday. CATL said in a separate filing that it will sell as much as 10 billion yuan of notes on China’s interbank market to fund the building and operation of its various projects.