China's CATL to deepen battery R&D cooperation with Volkswagen
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FILE PHOTO: People walk past a logo of the battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) at the Auto Shanghai show, in Shanghai, China April 18, 2023. REUTERS/Aly Song/File Photo
BEIJING (Reuters) - CATL has signed a strategic cooperation MOU with Volkswagen to deepen partnership in battery R&D, new materials application and components development, the Chinese electric vehicle battery giant said on Friday.
In a separate statement on the deal, Volkswagen China vowed to work with CATL to jointly develop "cost-competitive" battery products and explore battery recycling and swapping among other fields of cooperation.
(Reporting by Beijing newsroom; Editing by Christopher Cushing)
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