June 29, 2018 / 11:42 AM / 9 months ago

China's CATL battery factory plan for Germany is commercial decision: Germany

FILE PHOTO: People walk past the R&D centre of Contemporary Amperex Technology Ltd (CATL) in Ningde, Zhejiang province, China, December 16, 2016. REUTERS/Jake Spring/File Photo

BERLIN (Reuters) - Chinese battery maker CATL’s plans for a factory in Germany reflected a commercial investment decision and were unrelated to Berlin’s plans to strengthen Germany’s position in the field, a government spokeswoman said.

Earlier, sources told Reuters China’s battery maker Contemporary Amperex Technology Ltd (CATL) (300750.SZ) is planning a factory in the German state of Thuringia, establishing a European base for supplying carmakers including BMW (BMWG.DE).

A spokeswoman for the German economy ministry said the factory plans were unrelated to the government’s ambition to support European investments in battery technology, regarded as crucial to the long-term survival of the continent’s car industry as the sector transitions to electric traction.

Reporting by Thomas Escritt; Editing by Andrea Shalal

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