The Chinese battery giant will collaborate with Volkswagen on electric vehicle batteries, new materials and other auto parts.

CATL has signed a strategic cooperation MOU with Volkswagen to deepen partnership in battery R&D, new materials application and components development, the Chinese electric vehicle battery giant said on Friday.

Chinese battery giant Contemporary Amperex Technology (CATL) (SZ:300750) has signed a memorandum of understanding with Volkswagen AG (OTC:VWAGY) (ETR:VOWG), strengthening their collaboration on battery technology

Volkswagen has signed a deal with China's CATL to collaborate on EV battery research and development as well the development of new materials and auto parts.