Battery giant buys stake in lithium firm

Move to help secure supplies of key raw material, increase production capacity

Contemporary Amperex Technology Co Ltd, China's leading automotive battery maker, has purchased a more than 90 percent stake in a lithium company based in Canada, in a move to secure supplies of the key raw material.

The Fujian province-based company has also been preparing for an initial public offering, which, if successful, could make it the world's largest automotive battery maker by 2020.