Investing in Japan
Latest UpdatesWorld’s largest electric battery manufacturer in China, Contemporary Amprex Technology establishes corporation in Yokohama
Jul 18, 2018
Chinese company Contemporary Amprex Technology (CATL), which was established in Fujian Province in 2011, focuses on research, development, production and sales of lithium-ion batteries and storage battery systems for electric vehicles (EVs), and is listed on the Shenzhen Stock Exchange. It has been actively expanding business overseas, with four manufacturing bases in China, R&D centers in China and Germany and sales bases in Canada, the US and France. In addition, they have invested €30 million in Valmet Automotive (holding a 22% share), a leading automotive manufacturer of Finland that is a contract-manufacturer for Mercedes-Benz and Porsche-Valmet. R&D and production of EVs have progressed rapidly in recent years in China and the company has grown to be the world's largest EV battery manufacturer.
In October 2017, CATL set up a company Contemporary Amperex Technology Ltd. in Yokohama, Kanagawa, aiming to expand sales channels in Japan and other Asian countries like Korea. In May 2018, the company started their business in full scale. The Battery engineers are stationed to provide development and customer support for business partners. CATL plans to double its worldwide battery production capacity to 50 GW in 2020 and aims to win orders from Japanese automakers, which are currently shifting toward EVs.
For establishing their Japanese base, the JETRO Invest Japan Business Support Center (IBSC Kanagawa) provided incentive information of Yokohama City (subsidy information) and introduced local governments.