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CATL Upstream Cobalt Investments

Author: Source: Datetime: 2017-11-07 13:56:41
Chinese battery maker Contemporary Amperex Technology Co Ltd (CATL) is looking into upstream investments in raw materials, mostly cobalt, to ensure stable supply as demand for electric vehicles (EVs) soars, a company executive said on Tuesday.

Hu Guoliang, assistant to CATL's president and general manager for its global EV product line, told reporters in Guangzhou that one of his colleagues had been assigned the task of coordinating with upstream suppliers.
CATL Upstream Cobalt Investments
Asked if the firm was considering upstream investments, Hu said: "We are looking for all ways to collaborate with upstream and downstream, but obviously upstream is more difficult."

Several Chinese companies along the Chinese EV supply chain, including automaker Great Wall Motor Co, have bought stakes in overseas mines or been linked with such moves this year, amid expectations metal supply will not keep pace with EV demand.

"Actually, my colleague Mr. Huang is right now talking with someone outside," Hu said on the sidelines of an industry conference, declining to specify which countries were being considered. "He is in contact with a lot of upstream resources."
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