(Bloomberg) -- Northvolt AB is in talks with Chinese battery makers including Contemporary Amperex Technology Co. Ltd., the world’s largest manufacturer of electric car batteries, Dagens Nyheter reported without saying where it got the information.
Discussions on a possible partnership between the two companies have been ongoing since the summer with representatives meeting at CATL headquarters in Ningde, China, according to the report. The Chinese manufacturer holds a market share of close to 40% of global sales of EV batteries.
A Northvolt spokesman declined to comment on the report when contacted by Bloomberg News.
The Swedish battery maker filed for bankruptcy protection in the US last week after a desperate bid to secure rescue funding fell short. Outgoing Chief Executive Officer Peter Carlsson said earlier this month that potential tie-ups in Asia were part of the scope of discussions on finding a solution to the company’s crisis.
CATL sees growth potential in Europe’s EV market and is in talks to establish battery recycling operations in the region, Bloomberg News reported this month. Such a move would add to its footprint as the company prepares to start cell production in Hungary.
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