- CATL, the world’s largest power battery producer, has started to diversify its sources of revenue as rivals are quickly catching up and the new energy vehicle market has shown signs of slowing down.
- To making things worse, international battery makers are starting to make their foray into the world’s largest new energy vehicle market.
- LG Chem, the world’s fourth largest battery maker, announced Thursday its plans to build a $188 million joint venture with Chinese carmaker Geely to produce and sell batteries for new energy vehicles.