- CATL and Sinopec have entered into a partnership to jointly build no less than 500 battery swap stations this year, with a long-term goal of expanding to 10,000.
- The two companies will work together to build energy replenishment networks for passenger cars and heavy-duty trucks.
CATL (SHE: 300750) has entered into a partnership with Chinese fossil fuel giant Sinopec Group to jointly advance an aggressive battery swap stations construction target.
The two companies signed a cooperation framework agreement in Beijing recently that will fully deepen their long-term strategic partnership, according to a press release today.
They will work together to build a nationwide battery swap network, with no fewer than 500 stations to be built this year and a long-term goal of expanding to 10,000, CATL said.
The signing was witnessed by Robin Zeng, chairman and CEO of CATL, and Ma Yongsheng, chairman of Sinopec.
The battery maker will utilize its battery technology and battery swap system development capabilities, while Sinopec has nationwide gas station site resources and energy infrastructure buildout capabilities, the CATL press release said.
The two companies will work together to build an efficient and convenient energy replenishment network for passenger cars and heavy-duty trucks based on CATL's Choco-Swap, Qiji Energy solutions, according to the release.
CATL hopes to make battery swap as convenient as refueling through the partnership, a mission and vision shared by battery swap players, said Yang Jun, the battery maker's general manager in charge of the battery swap business.
CATL has already launched a number of battery swap-enabled models based on the Choco-Swap solution in cooperation with major automakers.
The company's battery swap solution for heavy trucks, Qiji Energy, has been used in more than 30 models, according to CATL.
CATL, the world's largest supplier of power batteries, entered the battery swap space in January 2022 and on December 18, 2024, announced ambitious plans aimed at standardizing swapable batteries.
CATL announced two standardized Choco-SEB passenger car battery packs last December, naming them #20 and #25, just as gasoline is available in the Chinese mainland as #92, #95, and #98.
In the heavy-duty truck segment, CATL unveiled its Qiji Energy solution on June 12, 2023, which it said can significantly reduce operating costs.
As the electrification transition in China's automotive sector moves forward at a rapid pace, traditional energy giants are also looking to change.
On April 15, 2021, Sinopec and Nio (NYSE: NIO) signed a strategic cooperation agreement to build charging and battery swap infrastructure.
On April 15, 2023, Nio said it reached 251 facilities with Sinopec, including 102 battery swap stations, 121 supercharging stations, and 28 destination charging stations, as the partnership turned two years old.
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