SHANGHAI — China’s top electric vehicle battery maker signed an agreement to supply Tesla Inc. with EV batteries starting in July.
Tesla will determine the number of batteries to be supplied between July 2020 and June 2022, CATL said in a stock exchange filing, adding the agreement does not impose restrictions on Tesla orders.
Tesla, which has a long-standing battery supply agreement with Japan’s Panasonic Corp., said during a fourth-quarter earnings call last week that its pact with LG Chem and CATL was at a smaller scale.
Tesla is building the Model 3 at a new $2 billion Shanghai factory, which started delivering cars last year, and has said it would diversify battery supplies for the plant.