"Geely Automobile Holdings and Contemporary Amperex Technology (CATL) have announced forming a JV called CATL Geely Power Battery Co. Ltd for production and sales of batteries, battery modules, and battery packs. With Geely intending to launch 40 new electric vehicles on the market by 2020, the creation of this JV is no doubt a critical strategy to ensure stable local supply and reduce procurement prices to enhance competitiveness for Geely Auto’s next generation of electrified vehicles. Geely Auto already holds more than 300 patents in new energy core technologies and already offers MHEV mild hybrid, HEV hybrid, and PHEV plug-in hybrid products in its range.
In China, everything seems to be moving faster on EV development than anywhere else in the world." – Vinay Piparsania