Tesla Catl Agreement
Ningde-based CATL has signed a two-year supplier contract with Tesla, effective between July 2020 and June 2022, Reuters reported on Sunday. SHANGHAI (Reuters) – China`s top battery maker CATL 300750.SZ said on Monday it had signed a battery supply contract with Tesla TSLA.O. Tesla, which has a long-standing battery power agreement with Japan`s Panasonic Corp 6752.T, said in its tender last week that its pact with LG Chem 051910.KS and CATL was small-scale. The Reuters article is a bit of a light on the details, but gives us more information than we knew before. The agreement has a two-year deal that will begin in mid-2020, but imposes “no restrictions on Tesla`s purchase volume.” Tesla will determine the volume of the battery purchase between July 2020 and June 2022, based on its own needs, CATL said in a stock exchange, adding that the agreement does not impose restrictions on Tesla`s purchase volume. In March 2019, Bloomberg announced that they were talking about a battery delivery contract for Tesla`s first car in China, the Model 3s. a tentative agreement was confirmed at the end of November. We have already heard in November about an alleged delivery contract between CATL and Tesla. At the time, the agreement was only provisional, but it now appears to have been confirmed by both parties. Fisker and Magna International have agreed to begin the production phase of the Ocean Fisker SUV. One of the world`s largest battery suppliers, CATL, has signed a contract with Tesla, reuters reports. On Thursday, Reuters reported that Tesla had signed battery supplier contracts with CATL and South Korea`s LG Chem Ltd (OTC: LGCLF).
At the time, the parties did not confirm a partnership. CATL said: “The collaboration is not an “intentional agreement,” and “Tesla is going to buy lithium-ion batteries from CATL.” China`s leading manufacturer of electric batteries, Contemporary Amperex Technology Co Ltd, announced on Thursday that it had signed a volume production price agreement with U.S. automaker Tesla, according to the China Securities Journal. The agreement has a two-year period between July 2020 and June 2022 and does not contain defined capacity restrictions. Based in San Carlos, the automaker began early delivery of the Model 3s in January and will produce the Model Y SUVs at the same plant.