Chinese battery maker CATL is in discussions to set up R&D centres in Hong Kong. The company’s chairman, Robin Zeng, told reporters the centres would create more intellectual property that could be licensed abroad.
He was speaking ahead of a meeting of a meeting this week of China’s parliament, the National People’s Congress.
In December, the company said it signed a memorandum of understanding with Hong Kong Science and Technology Parks Corporation (HKSTP) to establish an R&D centre at the science park. It said it planned to invest at least HK$ 1.2 billion ($153 million) promoting new energy technology.
HKSTP is a statutory institution established by the Hong Kong government. It said in addition to setting up its R&D centre in Hong Kong, CATL will also establish a global headquarters and an international investment centre in Hong Kong.
According to Reuters, CATL’s expansion with R&D centres in Hong Kong aligns with its strategy of exporting battery technology, not just batteries. Foreign governments, not least in the US, have been highly critical of using CATL batteries.
The US Congress has a Select Committee on the Chinese Communist Party, which campaigns to build consensus on “the threat posed by the Chinese Communist Party”. It frequently targets CATL.
Zeng is a member of the Chinese People’s Political Consultative Conference (CPPCC), a top advisory body of experts, business leaders and representatives from other political parties.
According to SNE Research, CATL remains the world number one battery supplier. Its market share in February 2024 was 39.7%, up from 33.9% a year before. Its growth rate in EV global battery usage in February 2024 was 88.1% from a year earlier.
