CATL is acquiring equity in Chongqing Yaoning New Energy Technology Co.; the
parties to the transaction are CATL and ZEEKR. On Sept. 16 Geely said Yaoning is
a newly built plant and the deal is part of strategic cooperation with external
battery manufacturers, not a sign that Geely has abandoned or reduced
self‑developed battery programs. Geely described the move as a small element of
its overall battery strategy. Geely also denied reports of an 8.5 bln yuan
investment total, saying no such figure exists and that any larger number may
reflect a comprehensive estimate (eg. land costs) but is incorrect to report as
the investment sum.
