FAW Hongqi, CATL form cooperation in battery swapping field

Shanghai (Gasgoo)- FAW Hongqi Automobile Sales Co., Ltd. ("FAW Hongqi"), Contemporary Amperex Technology Co., Ltd. ("CATL"), and Contemporary Amperex Energy Service Technology Ltd. ("CAES"), a wholly-owned subsidiary of CATL, recently signed a strategic cooperation framework agreement to conduct an in-depth collaboration in the battery swapping sector, according to a press release FAW Hongqi released on December 14.

Under the agreement, the three parties will leverage their respective expertise in new energy vehicle (NEV) technologies and market resources to promote battery swappable vehiclesunder the Hongqi brand, optimize battery swap services, and enhance the efficient operation of battery swap batteries. By fostering resource sharing and collaborative innovation, the partnership aims to maximize synergies and drive mutual benefits.

This collaboration represents a significant milestone in the ongoing cooperation between FAW Group and CATL in the NEV sector. FAW Hongqi will capitalize on its strong industry legacy and brand influence, CATL will contribute its leading-edge innovations in new energy technology and industrialization, and CAES will focus on standardized battery swap technology and operational innovation.

Notably, CATL also inked a cooperation agreement with Uxin, a leading e-commerce platform for buying and selling used cars in China, earlier this month to explore new business and service models in the battery swapping sector.

The collaboration aims to expand the battery-swapping market and ecosystem, and deliver comprehensive battery solutions. This initiative offers consumers seamless options, including battery renting, purchasing, repurchasing, swapping, charging, and upgrading, ensuring worry-free service throughout the battery lifecycle.