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 figu

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.