China's CATL to build first EU electric car battery plant in Germany

Chinese firm CATL will build a battery factory in central Germany to supply the country's key auto industry in its transformation toward electric cars, an investment hailed Monday by Chancellor Angela Merkel as a "new step" in Sino-European cooperation. The factory will be the only such manufacturing site in all of Europe, noted Merkel at a press conference with Chinese Prime Minister Li Keqiang following talks involving both countries' cabinets. "It is therefore of course a qualitative new step for a Chinese company to come here with technology that we don't have in Europe at the moment," she said.

from Yahoo News - Latest News & Headlines https://ift.tt/2uinSUD