Contemporary Amperex Technology Co Ltd in Ningde, Fujian province. [Photo/VCG]

Contemporary Amperex Technology Co Ltd (CATL), China's largest automotive lithium-ion battery maker, signed a technology licensing and partnership agreement with Hyundai Mobis CoLtd (MOBIS) on Oct 27, granting its CTP (cell to pack) technology to the auto parts supplier from the Republic of Korea (ROK).

CATL will also support Hyundai MOBIS in the supply of CTP-related battery products in the ROK and globally, according to the agreement.

By directly integrating cells into packs without modules, CTP technology improves system energy density, simplifies manufacturing and helps reduce costs.

The partnership will enable both parties to sharpen their competitive edge by working together to develop more innovative technologies for the global electric vehicle (EV) market, CATL said in the statement.

The partnership also initiates a new model for global technology cooperation in the industry, and helps CATL to spread its battery technology worldwide.

Headquartered in Ningde, in east China's Fujian province, CATL posted net profit growth of 131.45 percent in the first half of 2021 amid a booming new-energy vehicle (NEV) market.