Contemporary Amperex Technology Co. Limited has established a new subsidiary focused on upstream resources, in a move that underscores its push to secure raw materials for battery production.
According to corporate registry platform Tianyancha, Time Resources Group (Xiamen) Co. was registered on April 22 with a registered capital of 30 billion yuan (US$4.1 billion). The company is wholly owned by CATL, with SHU Zhiming listed as legal representative.
Its business scope includes mineral exploration, non-coal mining, geological prospecting, manufacturing of non-metallic mineral products, as well as sales of metals, chemicals and equipment. It also covers investment activities and corporate headquarters management.
The broad mandate points to a potential expansion into upstream resource development and investment, as CATL seeks to strengthen control over key materials such as lithium and other battery metals.
