BEIJING, Feb. 25 (Xinhua) -- China's battery maker Contemporary Amperex Technology Co., Ltd. (CATL, 300750.SZ) has signed an agreement with Chinese electric vehicle manufacturer BAIC BJEV and battery solution provider Pride Power to deepen business cooperation from 2019 to 2023, according to CATL's filing with Shenzhen Stock Exchange Monday.
CATL and Pride Power will provide power battery products at preferential prices to BAIC BJEV during the period of cooperation, while BAIC BJEV will buy a certain share of batteries in its demand from CATL and Pride Power in 2019 and try to do so in the following years within cooperation period, according to the agreement.
Also, CATL and BAIC BJEV will build a joint research and development team for cooperation in the field of new power packs.
The three parties have been partnering for years and the cooperation this time will consolidate CATL's market position and facilitate its sustainable development, CATL said. (Edited by Su Dan)
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