Valmet Automotive and Contemporary Amperex Technology Limited (CATL), a leading global provider of battery and energy storage solutions, have entered into strategic partnership in electric automotive solutions. Simultaneously CATL has subscribed to new shares issued by Valmet Automotive for a 22% ownership in the company. After the new share issue, the owners of Valmet Automotive are Pontos (39%), Tesi (39%) and CATL (22%).
CATL is a private Chinese company developing, manufacturing and providing after-sales services of lithium-ion battery solutions for electric vehicles and energy storage markets. It is among the three leading electric vehicle battery providers globally and the clear market leader in China with a large portfolio of world class customers. It has a strong aspiration to enlarge its footprint and further expand its business in the fast evolving European electric vehicle market. At the end of 2016, CATL employed over 10,000 employees worldwide.
Competences and businesses of Valmet Automotive and CATL are strongly complementary. The companies will together build capabilities to support the leading European automotive manufacturers and their suppliers by engineering electric vehicle drive train solutions and supplying battery packs to them. The partnership also strengthens CATL’s position to enter the fast evolving European electric vehicle market.
Valmet Automotive benefits significantly from the investment and CATL becoming an active owner of Valmet Automotive. CATL bring new resources and capabilities for Valmet Automotive to invest into the development of its capabilities, offering, operations and competitiveness in Finland and Central-Europe.
– We warmly welcome CATL as a strategic partner and new owner to Valmet Automotive. The electrical vehicle market is in a fundamental transformation and the growth expectations are significant. CATL bring new resources and capabilities for Valmet Automotive to invest into this very interesting market at the very right moment. China is globally the largest and most important electric vehicle market today and CATL is recognized there as the top battery provider. They have profound skills and impressive knowledge that we can jointly bring to the benefit of the European automotive industry and we are very proud that CATL has chosen Valmet Automotive as their partner. Our teams in Finland, Germany and Poland have served leading European automotive manufacturers for decades and now we aim to open a new path in the development of Valmet Automotive, says Mr. Jarkko Sairanen, Chairman of the Board, Valmet Automotive.
– We are excited to join Valmet Automotive as an investor and a strategic partner. Our shared aim is to develop a strong position in the European electrical vehicles market. Valmet Automotive, with long relationships to all leading European automotive OEMs, strong reputation and world-class engineering and manufacturing capabilities is a perfect partner for us, says Mr. Jia Zhou, Chief Operating Officer, CATL.
The strategic partnership of Valmet Automotive and CATL will be focusing in particular on project management, engineering and battery pack supply for electric and hybrid vehicles.
– Strategic partnership enables both parties to complement their offerings in the expanding field of electric mobility. For realizing the great potential of this partnership, Valmet Automotive and CATL have jointly formed a common collaboration and development roadmap for electric vehicle operations, which we start to implement immediately, says Mr. Ilpo Korhonen, CEO, Valmet Automotive.
Valmet Automotive is an engineering-driven provider of vehicle manufacturing, convertible roof systems and consulting services. The company specializes in premium cars, convertibles and electric vehicles, employing over 2,500 professionals with locations in Finland, Germany and Poland. Valmet Automotive is one of the largest automotive contract manufacturers in the world. Established in 1968, it has produced cars for OEM’s including Saab, Opel, Porsche and Mercedes-Benz. After the new share issue, Valmet Automotive is owned by Pontos and Tesi with 39% each and CATL with 22% ownership.
Contemporary Amperex Technology Limited (CATL) is a private company with headquarters in Ningde, Fujian, China. CATL is developing, manufacturing and providing after-sales services of lithium-ion battery solutions for electric vehicles and energy storage markets. CATL aims to provide best cost to performance services to its customers through technology innovation and product differentiation. It is one of the leading EV battery providers globally and the clear market leader in China with a large portfolio of world class customers. At the end of 2016, CATL employed over 10,000 employees worldwide.
Pontos is an active real estate and private equity investment company. The mission of the company is to act based on its values for the benefit of Pontos, its partners and its operating environment. Company targets balanced long-term growth based on know-how and selected investment strategies.
Tesi is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. We always invest together with other investors, providing them with access to high quality deal flow in Finland. We have 1 billion euros in assets under management and altogether 660 companies in portfolio