CATL’s expansion in the European new energy vehicle market

CATL has built a battery factory in Thuringia, Germany, and plans to set up a joint venture and build a battery factory in Spain. By the end of 2024, CATL will have 13 battery production bases in 66 countries and regions around the world. At the same time, CATL plans to invest about 90% of the funds raised from this Hong Kong stock offering in the construction of the first and second phases of the Hungarian factory. The project has an annual production capacity of 100GWh and a total investment of about 7.3 billion euros. After completion, it will become the largest electric vehicle battery factory in Europe.