China's top electric vehicle battery maker CATL said on Monday it has signed a battery supply agreement with Tesla.
Tesla will determine the battery purchase volume between July 2020 and June 2022, according to its own needs, CATL said in a stock exchange filing, adding the agreement does not impose restrictions on Tesla's purchase volume.
Tesla, which has a long-standing battery supply agreement with Japan's Panasonic Corp, said during its earnings call last week that its pact with LG Chem and CATL was at a smaller scale.
Tesla is building Model 3 vehicles from its $2 billion Shanghai factory, which started delivering cars last year, and has said it would diversify battery supplies for the plant.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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