TECH - Tesla Supplier CATL Seeks $1.5B Funding To Expand Global EV Battery Supply Chain | Benzinga
In a recent development, Contemporary Amperex Technology Co. Limited (CATL), a prominent supplier to Tesla Inc. (NASDAQ:TSLA), is reportedly in talks to raise a $1.5 billion fund to boost its global EV battery supply chain.
What Happened: The company, which also caters to Volkswagen and Ford, plans to utilize the fund to finance an ecosystem of companies to enhance production in Europe and other overseas markets, the Financial Times reported on Friday.
Despite having a cash reserve of $40 billion as of Mar. 31, CATL is facing hurdles in making significant international investments due to China’s stringent overseas direct investment rules. The proposed fund, managed by Lochpine Capital, ...