CATL Invests Another $1.4B to Establish New Company, Deepening Chongqing EV Battery Footprint

Contemporary Amperex Technology Co., Limited (CATL) recently established a wholly-owned subsidiary in Chongqing—Times Changan (Chongqing) Power Battery Co., Ltd.—with a registered capital of RMB 1 billion. The new entity is 100% owned by Times Changan Power Battery Co., Ltd., a joint venture between CATL and Changan Automobile. This move marks another significant step following their joint investment in 2023 to build a RMB 5.5 billion, 25 GWh power battery project. The new facility is expected to commence production in the second half of 2027. Once fully operational, it is projected to generate annual revenue of approximately RMB 10 billion and create around 2,500 jobs. CATL’s intensified investment in Chongqing aims to position itself closer to the core new energy vehicle (NEV) market in Southwest China, secure large orders from key customers such as Changan and Seres, and establish a localized battery industry ecosystem encompassing R&D, manufacturing, and supply chain operations. Notably, the new plant may also be equipped for sodium-ion battery production, aligning with Changan Automobile’s strategy to launch the world’s first mass-produced sodium-ion electric vehicle and enabling CATL to proactively prepare for future technological pathways. This collaboration has now evolved beyond a traditional supplier-buyer relationship into a deep strategic partnership characterized by joint technology development and shared benefits.