Mercedes Benz and Chinese battery manufacturer Contemporary Amperex Technology Co. Ltd. (CATL) have signed a Memorandum of Understanding (MoU) to expand their existing battery supply partnership. The companies have been working together since 2018, when Mercedes Benz started sourcing batteries for its electric vehicles from CATL.

Under the terms of the MoU, CATL will supply batteries for Mercedes Benz's new electric vehicle models slated for launch in Europe and China over the next few years. In addition, the companies will jointly develop new battery technologies, including solid-state batteries. The MoU is in line with Mercedes Benz's ambition to electrify its entire vehicle fleet and make electric vehicles an integral part of its product mix.

Mercedes Benz's decision to expand its partnership with CATL underscores the importance of the Chinese market to the German automaker's electric vehicle strategy. China is the world's largest market for electric vehicles, and Chinese firms like CATL have emerged as leading suppliers of batteries and other key components. Mercedes Benz plans to launch over 10 new electric vehicles in China by 2025, and the company is investing billions of euros in local production and R&D to make this happen.

The partnership with CATL is just one part of Mercedes Benz's comprehensive strategy to secure a reliable and sustainable supply of batteries for its electric vehicles. The company has also signed battery supply deals with South Korean firms LG Chem and Samsung, and it is working with Japanese companies like Panasonic and Contemporary Amperex Technology Co. Ltd. (CATL) on developing new battery technologies.

Mercedes Benz's electric vehicle plans

Mercedes Benz plans to launch over 10 new electric vehicles in China by 2025, and the company is investing billions of euros in local production and R&D to make this happen. The partnership with CATL is just one part of Mercedes Benz's comprehensive strategy to secure a reliable and sustainable supply of batteries for its electric vehicles. The company has also signed battery supply deals with South Korean firms LG Chem and Samsung, and it is working with Japanese companies like Panasonic and Contemporary Amperex Technology Co. Ltd. (CATL) on developing new battery technologies.

CATL's role in the electric vehicle industry

Contemporary Amperex Technology Co. Ltd. (CATL) is a leading Chinese battery manufacturer that supplies batteries for electric vehicles. The company has been working with Mercedes Benz since 2018, when Mercedes Benz started sourcing batteries for its electric vehicles from CATL. Under the terms of the MoU, CATL will supply batteries for Mercedes Benz's new electric vehicle models slated for launch in Europe and China over the next few years. In addition, the companies will jointly develop new battery technologies, including solid-state batteries.