China's battery giant CATL (HKG: 3750) and automotive conglomerate GAC Group have signed a comprehensive 10-year strategic cooperation agreement to advance their ambitions in the battery swap business.
The two companies recently signed the agreement in Guangzhou, where GAC is headquartered, witnessed by CATL chairman and CEO Robin Zeng and GAC chairman and general manager Feng Xingya, according to a CATL statement released today.
The statement noted both parties will deepen long-term cooperation in areas including battery rental and joint station construction, fully advancing the development of CATL's Choco-Swap ecosystem.
CATL said the two companies will jointly build an efficient and convenient energy service network, enabling users to enjoy a seamless "swap-and-go" mobility experience.
CATL and GAC will focus on joint R&D for smart chassis and battery swap ecosystems. Leveraging CATL's expertise in power batteries, energy storage systems, and energy services, they will co-develop more competitive new energy vehicle (NEV) models.
The statement also noted that both parties are advancing plans to integrate CATL's Bedrock Chassis skateboard platform into GAC's Trumpchi brand.
Two days ago, GAC's electric vehicle subsidiary GAC Aion launched the Aion UT Super compact hatchback on November 9, built on CATL's Choco-SEB (swapping electric block) battery swap technology.
The model starts at RMB 89,900 ($12,630) including the battery pack, or RMB 49,900 under a battery rental plan.
Chinese e-commerce giant JD.com will provide resources in user insights, vehicle sales, and maintenance services for the Aion UT Super.
($1 = RMB 7.1172)
