People walk past CATL's headquarters in Ningde, Fujian province, on March 14, 2023. (Photo by Li Fusheng/chinadaily.com.cn)
Contemporary Amperex Technology Co Ltd, the world's largest electric vehicle battery maker, has set up an aviation company on Wednesday. Experts said the move is a big step by the battery giant into the aviation manufacturing sector, and reflected a potential move of developing electric aircraft.
According to database firm Tianyancha, the new company, has registered capital of 600 million yuan ($83 million) and focuses on businesses including the design and production of civil aircraft components, as well as engines and propellers.
Joint shareholders of the new firm include the new energy subsidiary of CATL, Commercial Aircraft Corporation of China Ltd, and Shanghai Jiao Tong University Enterprise Development Group Co Ltd.
None of the three companies confirmed the news as of publishing time.
In April, CATL announced its cutting-edge condensed battery and said in addition to EVs, such technology will be used in the aviation sector.
The company also disclosed the technology has already been used in civil electric manned aircraft and has carried out tests to meet aviation-level quality and standards.