On 25 March, Ningde Times Chairman Zeng Yuchun said in an interview that Ningde Times and Tesla are working together to develop batteries with faster charging speeds. The two sides are working together on new electrochemical structures and other battery technologies designed to speed up charging. Zeng Yuchun also revealed that Ningde Times is providing equipment to Tesla's factory in Nevada, USA. The news came as CATL's Shanghai and Shenzhen stocks rose 4% today (26 March).