In a statement, a CATL spokesman confirmed the plans for the fund, which seeks to tap mostly overseas investors.
Contemporary Amperex Technology Co. Ltd., the world’s biggest maker of electric vehicle batteries, is in talks to launch a US$1.5 billion ($2.02 billion) fund to expand its global supply chain, according to a person with knowledge of the plans.
The battery giant has approached sovereign wealth funds and key customers like Mercedes-Benz Group AG to invest in the fund, according to the Financial Times, which first reported the development. The fund would help the battery-maker expand its supply chain in Europe and other foreign markets.
