CATL to Invest 500 Million Yuan in Fund Investing in AI; Shares Down 5%
MT Newswires Live
8 hours ago
Contemporary Amperex Technology (SHE:300750, HKG:3750), or CATL, plans to invest 500 million yuan into a partnership fund that will invest in artificial intelligence and embodied intelligence, according to a Tuesday disclosure with the Shenzhen bourse.
The battery maker's Hong Kong shares fell 5%, and Shenzhen shares dropped 4% during Wednesday's morning trade.
The fund, Xiamen CATL Deep Vision Venture Capital Fund Partnership (Limited Partnership), will have a total capital worth 4.90 billion yuan and a term of seven years.
CATL will subscribe for 10.2% of the fund through its affiliate, Mindong CATL Rural Investment and Development Partnership (Limited Partnership).
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