Hyperdrive
Tesla Is in Talks With Chinese Battery Giant to Power Model 3s Made in China
- CATL stock jumps as company said to discuss specs with Tesla
- Carmaker aims to start Model 3 production in China this year
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Tesla Inc. is in talks with top Chinese battery producer Contemporary Amperex Technology Co. Ltd. about supplying cells for the Model 3 cars it will assemble at a new factory near Shanghai, people familiar with the matter said. CATL’s stock jumped.
CATL has been discussing the required specifications for the batteries with Tesla officials, the people said, asking not to be named because the talks are private. There’s no guarantee that an agreement will be reached, according to the people.