Volkswagen and CATL announce collaboration for battery development.
The partnership should extend to other sectors related to electric vehicles, such as battery recycling and "vehicle-to-grid" technology.
(Reuters) - The Volkswagen Group and China's CATL, the world's largest battery manufacturer, have signed a letter of intent to collaborate on the development of new lithium-ion battery products, CATL said on Monday.
Later, the partnership is expected to extend to other sectors related to electric vehicles, such as battery recycling and "vehicle-to-grid" (v2g) technology, in which the car's electricity is transferred back to the power grid, the Chinese company said.
(Reporting by Victoria Waldersee)
