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EV Battery Leader CATL Joins BYD, Tesla to Tap Solar’s Boom

  • Manufacturers are expanding their focus on renewable energy
  • Solar will attract more investment than oil in 2023, IEA says
BYD booth at SNEC PV Power Expo solar conference in Shanghai on May 26.
BYD booth at SNEC PV Power Expo solar conference in Shanghai on May 26.Source: Bloomberg
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Contemporary Amperex Technology Co. Ltd., the world’s biggest electric vehicle battery producer, is joining Tesla Inc. and BYD Co. in adding a focus on the booming solar sector.

CATL said it is researching the development of perovskite cells, among the most promising methods to drive new improvements in solar panel performance. It also on Thursday struck an agreement with JA Solar Technology Co., China’s fourth-biggest module maker, to cooperate on scientific innovations, marketing and storage.