Honda Signs Battery Supply Contract for Around 1 Million EVs with CATL

"CATL has been able to keep the cost of its batteries under check, thereby gaining big clients like BMW, SAIC, Daimler, Nissan-Renault and (now) Honda, since 2017. The company is racing to launch NMC 811 battery chemistry before Korean companies like LG Chem and SK Innovation. According to Counterpoint’s EV study, CATL’s Li-ion battery capacity is expected to reach 50GW in 2020 from 8GW in 2017." - Aman Madhok