Ningde Times Signs Equipment Purchase Agreement for Indonesia Battery Plant

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Ningde Times New Energy Technology Company Limited (CATL) has announced that its subsidiaries, Hong Kong Times and CATI, have signed an equipment and service purchase agreement with an affiliate, CATIB., totaling about $131 million (Rp 3.57 trillion), to support the construction of battery factories in Indonesia.

Key elements of the agreement includeEquipment procurement ($109 million), i.e., cell production lines, module/battery pack production lines and ancillary equipment, and service procurement ($22.11 million) cover equipment installation and commissioning, manpower support and other technical services.Payment is made in stages, with equipment payment 30% in advance, 30% after installation, 30% upon acceptance, and 10% at the end of the warranty period.

CATIB for Ningde TimesIndirect Shareholding 70%of the Indonesian project company, this timeConnected TransactionsThe aim is to utilize the group's supply chain advantages to reduce procurement costs and ensure the technological advancement of the equipment in the Indonesian plant. Ningde Times said thatThe agreement will enhance the efficiency of overseas production bases and strengthen competitiveness in the global market.

# Chinese Capital Express