Giant CATL Battery Factory Near Completion Just 3 KM from Giga Shanghai

We have a video and news that the giant battery factory from CATL, that is just 3 km from Tesla's Giga Shanghai factory will be completed very soon. This is great news and let's see what's going on here.

Video Tour of New CATL Battery Factory

There is a video here of CATL's almost completed battery factory which is just 3 km from Giga Shanghai. This is great to see! We wrote about this giant battery factory being built 4 months ago and the progress has been very fast.

This battery factory form CATL is being built in Shanghai Lingang and is almost done. Various sources say that the factory will be done in 2 days (10/25/2021) and that CATL will also have a roll-out ceremony which will be held internally. This is a big win for CATL and Tesla because of the close distance between the two factories.

Battery Deals With Tesla and Other Companies

Last year, in February, Tesla and Ningde Times signed a two-year contract which lasts from July 2020 to June 2022. With this contract, Ningde Times supplies lithium iron phosphate batteries to Tesla's Giga Shanghai for electric vehicles.

The lithium iron phosphate as the cathode material of lithium-ion batteries has the advantage of a high operating voltage, high energy density, a long life cycle, good safety and performance, a small self-discharge rate, and many other benefits.

There was previous rumor that CATL would build a new large automotive power plant project in Shanghai, China, and that the new plant would have an annual capacity of 80 GWh. This was being interpreted by industry insiders as CATL being closer to Tesla's production base in Shanghai, China.

Another theory is that CATL is building a plant in Shanghai not just for Tesla, but also for Western Energy vehicles such as NIO, Xpeng, and RISO. We'll have to wait and see what deals get announced, if any, between those auto makers.

CATL is on the Right Track

If you look at CATL (Contemporary Amperex Technology Co. Ltd.), you can see strong growth in its stock since its debut on June 15, 2018. From that time, the stock has gone from 53.0 yuan to 601.40 yuan, a 12 times return on investment made and I believe there's going to be continued high growth for this company until electric vehicles reach saturation.

In fact, I wouldn't be surprised to see CATL build another battery factory in Europe and the United States. Let's wait and see what happens!

What do you think about CATL being done with their battery factory near Giga Shanghai? Is this good for Tesla and CATl? Will other auto makers benefit from this, such as NIO?

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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter, Facebook, LinkedIn and Instagram to stay in touch and follow his Tesla news coverage on Torque News.