Tesla supplier CATL evaluating battery swapping business overseas

Source: cnbc.com cnbc.com

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CATL is the world's largest electric vehicle battery maker and supplier to the likes of Tesla and Ford. The world's largest electric vehicle battery maker CATL is evaluating whether to expand its battery swapping business to international markets, a senior executive told CNBC. CATL, or Contemporary Amperex Technology Co. Limited, is a supplier to companies such as Tesla and Ford. In January, the Chinese battery manufacturer launched its battery swapping business called EVOGO in China across 10 cities. The aim is to remove the need for electric cars to stop at recharging stations. Instead, drivers can rent battery packs from...