The Contemporary Amperex Technology Co. Ltd. EV battery factory on the outskirts of the German town of Arnstadt, on May 8.
Photographer: Iona Dutz/BloombergCATL’s $2 Billion German Plant Boosts China’s Invest-Abroad Bet
The Chinese company’s factory in Arnstadt builds EV batteries for carmakers including Volkswagen and BMW.
More than two years ago on the outskirts of a medieval German town, China’s biggest EV battery company placed a €1.8 billion ($2 billion) bet on the future of global trade.
The decision by Contemporary Amperex Technology Co. Ltd. to open a sprawling factory in central Germany — its first outside China — symbolized President Xi Jinping’s recognition that protectionist impulses around the world are here to stay. The idea was simple: invest abroad, create local jobs and keep Chinese goods flowing into key markets. CATL — which this week started trading in Hong Kong after raising $4.6 billion — is a flagship example of that initiative.