General Motors Considers Acquisition of Chinese-Tech Batteries: Report

New batteries from Contemporary Amperex Technology Co., Limited (CATL) in China are being considered by General Motors for its projects.

The manufacturer also intends to assemble a new plant in the United States, Reuters said Friday. Ford Motor, its rival, shared that it also aims to license technology from CATL in order to create lithium-iron batteries in its Michigan battery plant.

General Motors noted that the upcoming plant would be both funded and managed by TDK Corp, a consumer electronic firm in Japan. The plant is expected to be established in the south of the U.S. and offer more than 1,000 jobs for interested workers.

General Motors also left a brief statement, saying that the company's EV strategy will be narrowed to designing products that "continue to lower cost, improve performance, and localize production."

The automaker also affirmed that battery technology is a major player in making the strategy happen. When Reuters asked for a comment, CATL did not respond.

Last week, General Motors shared its plan to manufacture hybrid-flex vehicles that are ethanol-powered.

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