Contemporary Amperex Technology Limited (CATL) and Toyota Motor Corporation (Toyota) announced that they have entered into a comprehensive partnership agreement for the stable supply and further development of New Energy Vehicle (NEV) batteries.

The two companies have also commenced discussions that cover a wide range of fields, including: supply of batteries, new technology development, product quality improvements, and the reuse and recycling of batteries.

Through this broad-ranging collaboration, CATL will combine its battery development and supply capabilities with Toyota’s electrified vehicle and battery development technologies. With this combination, the two companies will engage in the development of electrified vehicles that are attractive to customers and in further promoting their widespread adoption.