Chinese battery giant licenses its technology to Hyundai Motor affiliate

Aerial photo taken on Sept. 11, 2019 shows a part of Contemporary Amperex Technology Co., Ltd in Ningde, east China's Fujian Province. As a pioneer enterprise in lithium battery manufacturing, a pillar industry in Ningde, Contemporary Amperex Technology Co., Ltd has in recent years been committed to improving R&D and manufacturing capabilities of full industrial chains in vehicle and energy storage batteries field. (Xinhua/Lin Shanchuan)

FUZHOU, Oct. 28 (Xinhua) -- Contemporary Amperex Technology Co., Ltd. (CATL), China's largest automotive lithium-ion battery maker, signed a technology licensing and partnership agreement with Hyundai Mobis Co., Ltd. (MOBIS) on Wednesday, granting its CTP (cell to pack) technology to the auto parts supplier from the Republic of Korea (ROK).

CATL will also support Hyundai MOBIS in the supply of CTP-related battery products in the ROK and globally, according to the agreement.

By directly integrating cells into packs without modules, CTP technology improves system energy density, simplifies manufacturing and helps reduce costs.

The partnership will enable both parties to sharpen their competitive edge by working together to develop more innovative technologies for the global electric vehicle (EV) market, CATL said in the statement.

The partnership also initiates a new model for global technology cooperation in the industry, and helps CATL to spread its battery technology worldwide.

Headquartered in Ningde, in east China's Fujian Province, CATL posted net profit growth of 131.45 percent in the first half of 2021 amid a booming new-energy vehicle (NEV) market.