N.A.N. GreenMet and Silox Group Form 50:50 Joint Venture to Build Battery Recycling and Critical Minerals Platform

On June 22, CATL and Octopus Energy, the largest energy company in the UK, announced plans to establish a joint venture. The two parties will jointly build a heavy-duty truck battery swap network in Europe. CATL will introduce its Qiji battery swap technology to Europe, promoting the electrification transformation of road freight by enhancing the charging efficiency of heavy-duty trucks. According to the plan, in 2027, the two parties will complete the construction of the first batch of demonstration battery swap stations in the UK, prioritizing coverage of major highway trunk lines and key logistics ports. It is expected that by 2035, the battery swap station network will expand to more than 30 stations, with business reach extending to Scotland and Wales, forming a battery swap network covering the UK's core trunk routes.

CATL and UK-based energy technology company Octopus Energy have established a joint venture named Swaptopus to develop a battery-swapping network for electric trucks across Europe. The first battery-swapping hubs in the UK are expected to begin operations in 2027, with plans to build more than 30 hubs across Europe by 2035. The partnership combines CATL's battery-swapping technology with Octopus Energy's energy management and trading capabilities to support the electrification of road freight.

China's exports of lithium iron phosphate (LFP) in May 2026 reached 7,625.4 tonnes, up 29.3% month-on-month from April and surging 710.0% year-on-year from May 2025, setting a new high for a single month this year.