CATL and Ford announce Global Strategic Cooperation to promote EVs worldwide

• CATL and Ford agree to pursue a Global Strategic Cooperation covering battery supply in North America, Europe and China
• The two companies intend to jointly explore new business opportunities worldwide to promote global EVs
• As part of separate agreements, CATL will supply lithium iron phosphate (LFP) battery packs for Ford's North American Mustang Mach-Es next year and North American F-150 Lightning in early 2024, creating even more capacity for high-demand products customers want

NINGDE, China, July 21, 2022 /PRNewswire/ -- Contemporary Amperex Technology Co., Limited ("CATL") and Ford Motor Company ("Ford") today announced a non-binding MOU outlining Global Strategic Cooperation including supplying batteries in China, Europe and North America.

Under separate agreements, CATL also will provide full LFP battery packs for North American Mustang Mach-E models starting next year as well as North American F-150 Lightnings in early 2024. Powered by CATL's LFP battery system, which features long battery life and thermal stability, the above-mentioned Ford models will offer outstanding performance in temperature adaptability.

CTP is a technology that directly integrates cells into packs, enabling the pack to improve system energy density, simplify manufacturing and lower cost. Ford's EV architecture flexibility allows efficient incorporation of CATL's prismatic CTP (cell-to-pack) technology, delivering incremental capacity quickly to scale and meet customer demand.

The two companies plan to leverage their respective strengths to jointly explore new business opportunities worldwide. In addition to supplying LFP-based CTP batteries to Ford, CATL intends to actively cooperate with Ford with respect to other battery technologies.

The elevated global strategic cooperation aims to open up new opportunities for both companies to create a sustainable business and promote EVs, contributing to global carbon neutrality goals.