"Battery Swapping, Home Charging, and Public Charging Will Divide the Market into Three!" Yuqun Zeng Officially Announces CATL's Grand Battery Swapping Strategy

CATL (300750.SZ) is intensifying its battery swapping layout, with Robin Zeng personally announcing the launch of the Chocolate Battery Swapping Ecosystem.

CATL held the Chocolate Battery Swapping Ecosystem Conference today, unveiling new plans for battery swapping. Notably, Robin Zeng, the founder, chairman, and CEO of CATL, made a rare appearance at the company's promotional event and delivered a speech. Previously, Zeng seldom attended major product and brand events, such as the launch of the Shenxing Superfast Charging Battery and commercial batteries.

"Battery swapping is a capital-intensive, high-investment, and long-cycle industry involving numerous stakeholders and a complex chain," Zeng remarked at the beginning of the conference.

Why did CATL choose battery swapping? In response, Zeng stated that battery swapping is a composite innovation, a reconstruction of new energy scenarios based on user demands, and a key to providing every consumer with a more convenient, economical, safe, and environmentally friendly travel solution. Based on market demands, it is projected that by 2030, battery swapping, home charging, and public charging will each hold an equal share of the market.

Regarding the Chocolate Battery Swapping Ecosystem, CATL introduced two standard battery blocks named 20# and 25#, along with subscription fees for the LFP version of the standard battery blocks. The 25# battery offers a Travel Package at 599 yuan/month and a Family Package at 499 yuan/month, while the 20# battery offers a Travel Package at 469 yuan/month and a Family Package at 369 yuan/month. Zeng also promised that all future battery technologies from CATL would be applied to Chocolate battery swapping car models.

CATL plans to build 1,000 Chocolate battery swapping stations by 2025 and expand into Hong Kong and Macau. Under planning, the company aims to collaborate with various partners to establish 10,000 stations. As the battery swapping ecosystem grows, the ultimate scale of Chocolate battery swapping stations is expected to reach 30,000.

CATL has partnered with Changan, GAC, BAIC, Wuling, and FAW to jointly launch 10 battery swapping car models. These models are set to be gradually introduced to the market starting at the end of this year, with new models released every quarter thereafter.

Zeng stated, "Today, we are about to launch the new generation of Chocolate solutions and, together with our extensive ecosystem partners, initiate the Chocolate Battery Swapping Ecosystem. We are willing to provide the highest-quality batteries and allocate better resources to enhance the new infrastructure for stations and networks."

In the battery swapping sector, NIO represents automakers focusing on battery swapping station infrastructure. Comparatively, NIO currently offers a Battery-as-a-Service (BaaS) solution, with a 75 kWh battery service fee of 728 yuan/month. According to NIO's official website, BaaS is currently available with a "rent 3 months, get 1 month free" promotion, equivalent to 546 yuan/month. After December, the price will revert to 728 yuan/month. A NIO sales representative told a reporter from CLS that battery rental prices will only decrease, not increase.

As of December 16 this year, NIO has completed the construction of 2,800 battery swapping stations. NIO Chairman William Li revealed that by the end of 2025, NIO will have built over 5,000 battery swapping stations in total.

It is understood that the battery swapping model involves using mechanical means to quickly replace the power battery of NEVs for energy replenishment. Compared to the charging model, its advantage lies in higher efficiency, with energy replenishment typically completed within 5 minutes.

On January 18, 2021, CATL established its subsidiary, CAES, officially entering the battery swapping sector. It launched the EVOGO battery swapping service brand and an integrated battery swapping solution comprising three products: Chocolate battery blocks, fast swapping stations, and an app. In 2023, CATL introduced the Qiji Battery Swapping Solution for electric heavy trucks, featuring larger single battery cell capacities.