China’s CATL inks deal with Tesla

China’s leading company, CATL (Contemporary Amperex Technology Ltd), known for its automotive lithium-ion battery manufacturing, signed a four year deal with Tesla to supply the batteries. It came after the signature on a contract of two years in the year 2020.

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June PMI of manufacturing plunges to 50.9 in China

The key gauge of manufacturing PMI (Purchasing Managers’ Index) China registered a dip of 50.9 in June 2021. In the last month, it was 51. This is because the production got slowed due to the poor power supply, which halted the production. The official data released on Wednesday exhibited the facts. The reading was clocked above the expectation of the market forecast carried by Nomura, which was 50.7.

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