CATL Invests in New Zealand Biographite Maker CarbonScape

Contemporary Amperex Technology (SHE:300750, HKG:3750) or CATL has made a strategic investment in New Zealand-based bio-based graphite materials maker CarbonScape. Through the investment, the Chinese battery maker plans "to advance the commercial scale-up and deployment" of bio-based graphite materials for next-generation battery supply chains, CarbonScape and CATL said in a joint press release on Monday. The multi-year collaboration covers technology de-risking and scale-up, as well as strategic investment and financing. While the companies did not disclose the financial terms of the transaction, As part of the deal, CATL will also secure representation on CarbonScape's board, according to the press release. The partnership seeks to establish local graphite supply chains for automakers in the U.S. and Europe. CATL supplies batteries to major automakers, including Tesla, BMW, Mercedes-Benz, Volkswagen, Honda Motor (TYO:7267), Hyundai Motor (KRX:005380), NIO (HKG:9866, SGX:NIO) and Li Auto (HKG:2015). The companies noted that over 75% of graphite used in batteries comes from an oil-based feedstock..