CATL , the world's largest battery maker, has offered to cut costs for Chinese automakers, a move that demonstrates its market power and could also widen China's cost advantage in electric vehicles.
earlier this month came with a catch: in exchange for the discount, the automakers would have to pledge most of their battery supply contracts to CATL, according to the three sources.
Contemporary Amperex Technology Co Ltd - more widely known by its initials - is the dominant global supplier with a 37% share of the EV market. The company did not respond to a request for comment.CATL has faced some pushback from Chinese automakers for its market dominance and pricing. It was not immediately clear how China's regulators would view CATL's offer of lower prices in exchange for a fixed share of future orders.
CATL's offer follows a downturn in lithium prices linked to a slowdown in EV sales in China, which accounted for two-thirds of all battery-powered cars sold in 2022. Battery prices had been falling for more than a decade before turning higher in 2022. That began to reverse late last year in China.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese bank says missing chairman is cooperating with Chinese authorities in an investigationChina Renaissance Holdings said in an exchange filing on Sunday that its missing chairman and star dealmaker Bao Fan was currently cooperating with relevant Chinese authorities conducting an investigation.
Read more »
China's EU ambassador says EU leaders may visit China by mid-2023Chinese ambassador to the European Union Fu Cong said European Commission President Ursula von der Leyen and European Council President Charles Michel may visit China in the first half of 2023, China's state-backed Global Times reported.
Read more »
Rep. Mike Gallagher sounds alarm over China’s illegal police stations in U.S.House select committee on China Chairman Mike Gallagher is warning of a widespread, mafia-like crackdown by the Chinese Communist Party on Chinese expatriates around the globe including on U.S. soil.
Read more »
Chinese military orders US plane away from its airspace, flies fighter jet 500 feet from wingA U.S. Navy plane in the South China Sea was warned by the Chinese military to stay away and a Chinese fighter jet was scrambled to monitor it for
Read more »
ADA and BNB Price Analysis for February 25Can BNB and ADA remain above their vital levels? Dave_Jonez_02 BNB Pain_Alive_BNB Binance_DEX BinanceResearch BinanceAngels CardanoStiftung ADAcoin_ Cardano cardano Cardano_ emurgo_io
Read more »
SHIB Price Analysis for February 25Has SHIB found the local bottom yet?
Read more »