China's CATL to produce EV batteries in Germany

Multiple sources confirm that Contemporary Amperex Technology Ltd. (CATL), China's main battery manufacturer, is to build a plant in the German state of Thuringia to produce EV batteries for BMW and other European car makers. 

BMW confirms it has awarded a €1-billion contract to CATL for the production of lithium-ion cells that can be used in battery packs for electric vehicles. Earlier, VW also picked CATL (as well as Samsung and LG Chem from South Korea) for its EV battery supply. 

Although no official confirmation was forthcoming, sources state an agreement on the CATL factory is likely to be signed at a Sino-German summit in Berlin on 9 July.