Chinese electric vehicle and energy storage battery solution producer Contemporary Amperex Technology Limited (CATL), one of the world’s three leading electric vehicle battery providers, has joined Valmet Automotive in a new strategic partnership to strengthen their electric vehicle competences. In the interest of better serving leading European automotive manufacturers, the two companies will enrich one another’s offerings. Sharing Valmet Automotive’s extensive, established network of partners throughout Europe as well CATL’s resources and capabilities in the electric vehicle industry. Further signaling its commitment to the partnership, CATL also acquired a 22% ownership stake in Valmet Automotive.

The partnership, according to a statement from Valmet Automotive, will primarily focus on project management, engineering, and battery pack supply for electric and hybrid vehicles. The partnership sees Valmet Automotive continue its work in the electric vehicle field, a concrete step forward after its early contributions to the industry in the manufacturing of the hybrid Fisker Karma from 2011 to 2012 and the electric THINK City from 2009 to 2011.

Read Valmet Automotive statement

Reuters has reported on the partnership


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