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Tesla said on January 29 that it has reached cooperation on battery supply with LG Chemical Co., Ltd. and Ningde era new energy technology Co., Ltd. (hereinafter referred to as "Ningde era", 300750), but the supply agreement is relatively small.
Ningde times is a leading power battery enterprise in China. Its business covers the research and development, production and sales of new energy vehicle power battery system and energy storage system. It has the core technologies in the field of power and energy storage battery, including materials, cells, battery system and battery recycling and secondary utilization. According to the data, the installed capacity of Ningde times in the third quarter of last year was 7.79gwh, accounting for 63.6% of the market in the third quarter.
As for the cooperation with Tesla, Ningde Times said to surging journalists, "I don't know for the moment, but the announcement shall prevail.".
Before Tesla came to China to build the plant, Panasonic group has always been its only power battery supplier. Since July 2014, the two sides signed the "super plant" agreement and jointly built the plant, but the relationship is increasingly tense due to production capacity and other reasons.

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