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CATL enters Ford's supply chain

For the first time, Ford confirmed that CATL is its supplier. Ningde Times stated that "subject to the customer's caliber," which further confirmed the authenticity of this news.

The Ningde Times International Market has another success.

Recently, Lisa Drake, chief operating officer of Ford Motor Company, publicly stated at an investor meeting that Ford will maintain cooperation with five battery suppliers, including CATL, BYD, SK, LG Energy Solution, and Panasonic.

This is the first time Ford has confirmed that CATL is its supplier. Subsequently, this statement was also authorized by Ford China's senior management. Ningde Times stated that "subject to the customer's caliber," which further confirmed the authenticity of this news.

As early as March 2019, the industry reported that "Ford sent representatives to Ningde Times to visit the factory" news, but neither party confirmed this at that time. This confirmation will further consolidate the leading position of CATL in the international market.

With the acceleration of the global electrification transformation, as the worldwide power battery leader, CATL is gaining momentum this year.

CATL binds leading companies and new car manufacturers in the domestic market to become the main force of its power battery supply, ensuring a high market share. According to GGII data, the total installed capacity of power batteries for new car manufacturers in October 2021 is about 17.16GWh. Among them, CATL occupies 77.7% of this market.

In the first October of 2021, CATL's installed capacity of Tesla Model 3 and Model Y reached 5.34GWh, and the installed capacity of Model Y reached 3.36GWh. Its supporting share has been rising steadily. A few days ago, Tesla also ordered a 45GWh lithium iron phosphate battery from CATL to ensure the steady progress of its sales plan next year.

CATL & FordCATL & Ford

In foreign markets, CATL actively enters the supply chain of foreign auto companies and continuously expands its business scope. According to incomplete statistics from Gaogong Lithium Battery, since this year, CATL has always cooperated and increased cooperation with Hyundai, Volkswagen, Daimler Trucks, Rolls Royce, Tesla, BMW, Fisker, and other international car companies. Information.

Facing the vast market demand, CATL is also continuously expanding production and extending the industrial chain to enhance its supply capacity further.

In terms of capacity expansion, according to the statistics of Gaogong Lithium Battery, CATL has planned eight self-built production bases with a total battery production capacity (including PACK) of about 500GWh. If the power of the joint venture with car companies is added, it will reach 600-650GWh, and it is expected to be in 2025. The production capacity will reach 700-800GWh.

In terms of supply chain layout, CATL invested 32 billion yuan in building the Bangpu Integrated Battery Material Industrial Park project; acquired Millennial, a Canadian lithium miner; cooperated with BASF in cathode materials and battery recycling; increased investment in Changzhou Liyuan, a subsidiary of Longpan Technology's LFP business; Signed a strategic cooperation agreement with Sichuan Energy Investment to take the initiative in various fields such as lithium mineral resources and lithium salt production.

In addition, CATL is also actively involved in other fields such as energy storage, new energy materials, and intelligent logistics.

Thanks to its globalization and integrated layout, CATL achieved revenue of approximately 73.36 billion yuan in the first three quarters of this year, a year-on-year increase of 132.73%; net profit was about 7.75 billion yuan, a year-on-year increase of 130.9%. Over the 2020 full-year revenue of 50.319 billion yuan and net profit of 5.583 billion yuan.

It is worth mentioning that Ford Motor also stated that the company plans to increase its electric vehicle production capacity to 600,000 units per year within two years, becoming the world's second-largest electric vehicle manufacturer and establishing a global production capacity of 240GWh in 2030. The massive demand for expansion may bring new revenue growth to the Ningde era.

Edit by Paco

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