RIYADH: Chinese battery manufacturer and technology company Contemporary Amperex Technology Co. Ltd., or CATL, is contemplating new sites across North America for a potential $5 billion facility, according to Bloomberg.
This comes amid global strategic push into electric vehicle, or EV push, in an attempt to slash carbon emissions.
The world’s biggest manufacturer of batteries for electric vehicles is planning for the plant to have a production capacity of 80 GW hours of batteries annually to cater to customers including Tesla Inc.
The plant will employ as much as 10,000 workers, Bloomberg reported, citing people familiar with the matter.
The company fears limitations regarding availability of labor and other trade issues in the US and Canada.
However, having a plant in the North American region will help the manufacturer to curb trade tariffs while supplying customers.
CATL has an estimated 30 percent of the global EV battery market.