Total's Battery Company Launches JV With China's Tianneng
04 Abril 2019 - 1:07AM
Noticias Dow Jones
By Nathan Allen
Total SA (FP.FR) said Thursday that its battery-making
subsidiary Saft will launch a joint venture with China's Tianneng
Energy Technology to manufacture lithium-ion cells.
Saft will have a 40% stake in the venture, which is to be based
in Changxing, while Tianneng will hold the remaining equity, Total
said.
The joint venture will produce lithium-ion cells, modules and
packs for electric vehicles and energy-storage units to be sold in
China and global markets, Total said.
The partners also plan to expand Tianneng's Changxing facility
to meet growing global demand for batteries.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
April 04, 2019 02:52 ET (06:52 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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