China's CATL says oil price hikes present development opportunities for energy storage, EV batteries

China's CATL (3750) said on Wednesday that recent rises in oil prices have created favourable conditions for the development of energy storage systems and electric vehicle batteries, during a roundtable in Beijing.

Chief technology officer Gao Huan said CATL would continue improving its manufacturing techniques to ensure large scale delivery of high-quality products globally and that it had been expanding capacity to meet global demand growth for batteries.

He was speaking during the roundtable at the Beijing Autoshow.

Reuters