Tesla Pursues Building a New US Plant With China’s Dominant Battery Maker
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Tesla Pursues Building a New US Plant With China’s Dominant Battery Maker
(Bloomberg) -- Tesla Inc. is looking to build a battery plant in the US, according to people familiar with the matter, in what would likely be a controversial arrangement with China’s dominant electric-vehicle battery manufacturer.
Most Read from Bloomberg
The EV maker discussed plans involving Contemporary Amperex Technology Co. Ltd. with the White House in recent days, said the people, who asked not to be identified revealing private conversations. Tesla representatives sought clarity on the Inflation Reduction Act rules that the Biden administration is finalizing this week, according to some of the people. Rohan Patel, the company’s senior global director of public policy, was among those involved with the discussions, one of the people said.
Tesla wants to pursue a deal similar to one that Ford Motor Co. announced last month in Michigan with the battery maker, known as CATL, to construct a plant wholly owned by the US automaker, according to the people.
Representatives of Tesla, CATL and the White House didn’t immediately respond to requests for comment. Patel also didn’t respond.
CATL shares rose as much as 2.3% in early trading in Shenzhen on Friday.
Read more: Ford’s Path to China Deal Got a Surprise Biden Boost
Tesla is in expansion mode, deploying its $22 billion in cash to crank up production volumes and lower costs as it faces increased competition. CATL, which makes lithium iron phosphate batteries, a chemistry that is cheaper than the nickel-based batteries used in the West, is key to that plan.
The automaker is considering building the battery plant in Texas to supply its EV assembly plant there, though a location hasn’t been finalized, some of the people said. Like the Ford deal structure, Tesla would own and operate the factory while licensing the technology from CATL.
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