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SAIC's plug-in crossover
 
SAIC forms partnership to produce EV batteries
Automotive News China | 2017/5/12

SAIC Motor Corp. plans to produce lithium ion batteries for its electric vehicles with Contemporary Amperex Technology Co., a leading Chinese battery producer, according to the Ministry of Commerce.

Under agreements between the companies, SAIC will create two joint ventures with Contemporary Amperex.

The first partnership will be a 2 billion yuan ($290 million) joint venture to develop and build lithium ion battery and lithium polymer battery cells. The second will be a 300 million yuan partnership to assemble the cells into battery packs. 

In the battery cell joint venture, SAIC will hold a 49 percent stake and Contemporary Amperex will own a 51 percent stake. 

For the battery pack business, SAIC will own 51 percent and Contemporary Amperex will hold 49 percent.

The joint ventures will undergo an anti-monopoly review, the ministry said.

SAIC produces battery-electric vehicles and plug-in hybrids under its Roewe brand. It also has joint ventures with General Motors and Volkswagen Group.

Contemporary Amperex was incorporated in 2011 in Ningde in east China's Fujian province. It is China's second-largest EV battery supplier, behind BYD Co.

The company says it supplies EV batteries to BMW AG, Geely Automobile Holdings, BAIC Motor Co. and Changan Automobile Co.


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