CATL, world's largest power battery producer

China has been the world's largest market for NEVs since it overtook the United States in 2015. It is also home to Contemporary Amperex Technology Co Ltd, or CATL, the world's largest power battery producer, which is a supplier for international carmakers including BMW and Volkswagen.

Established in 2011, CATL, whose Chinese name literally means "the age of Ningde", has lived up to its name. By 2017, it had become the world's largest electric vehicle battery maker.

CATL is headquartered in Ningde, a small Chinese city known for yellow croakers. For the three years since 2017, it has ranked No 1 on the list of global battery producers in terms of market share, leaving behind traditional giants including Panasonic, LG Chem and Samsung.

According to statistics from GGII, a Chinese consulting firm, CATL's batteries totaled 23.52 GWh in 2018, up 122 percent year-on-year and representing a 41 percent share of the Chinese market, with the closest followers far behind.

CATL continues to keep the market-leading position in annual lithium-ion battery sales volume. Last year, the total figure reached 40.25 GWh.

So far it has spent billions of yuan setting up joint ventures with almost all major Chinese carmakers including Geely, SAIC and FAW.

As the company consolidates its position in China, it will explore opportunities to tap into overseas markets as well.

According to Reuters, CATL will build its first European battery cell factory in Erfurt, Germany, to start production in 2021, and scale up its annual production to reach 60 GWh from 2026.

CATL is also a shareholder of Finnish company Valmet, which is planning to build a battery plant in Finland this year.

A technician tests the batteries at a CATL lab in Ningde, Fujian province. [Photo/XINHUA]