CATL and Egypt's BME plan 5 GWh battery plant

Egypt's Cabinet said Sunday that BME Battery Manufacturing and CATL signed a contract, witnessed by Prime Minister Mostafa Madbouly, for a plant with initial investment above 2 billion Egyptian pounds (about $39 million). Phase 1 is 1 GWh a year of batteries for heavy commercial vehicles. Phase 2 would lift capacity to 5 GWh and add passenger-car cells plus solar and wind storage, with a 40 percent local-content target. The site and start date were not disclosed.