Contemporary Amperex Technology (SHE:300750, HKG:3750), or CATL, is looking to prioritize expansion overseas amid intense competition in the domestic car market, Bloomberg News reported Wednesday.
The battery manufacturer is retooling its factories to be greener, smarter and more flexible, allowing for a quick pivot to new products while cutting emissions and energy use, according to the report.
To power its international drive, CATL is testing localized production models, with a plant in Germany and another factory being built in Hungary, Bloomberg wrote.
CATL shares closed 4% higher on the Shanghai bourse on Wednesday and 5% higher on the Hong Kong bourse.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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