Chinese battery maker CATL said on Watch Fast & Furious 7 OnlineFeb. 21 it has extended its partnership with Volkswagen in a move to develop “technologically advanced and cost-competitive” batteries for electric vehicles, as well as explore the potential of battery recycling and swapping, and other fields of cooperation. The two companies will jointly develop EVs with swappable batteries, people familiar with the matter told financial media outlet Caixin, without providing further details. The news comes after CATL said last December that it had co-developed 10 new EV models with automakers and would build 1,000 battery swapping stations in China in 2025. CATL maintained its position as the world’s largest EV battery supplier last year with a market share of 37.9% and an installed capacity of 339.3 gigawatt-hours (GWh), according to a report published by South Korean market research agency SNE Research on Feb. 11. [CATL announcement, Caixin, in Chinese]
