CATL, BAIC Group, Xiaomi EV's joint venture for battery project changes name

Shanghai (Gasgoo)- On January 3, Beijing Contemporary Amperex Battery Co., Ltd. (name in translation), a joint venture of CATL, BAIC Group, and Xiaomi EV, changed its name to Contemporary Amperex-BAIC (Beijing) New Energy Technology Co., Ltd. (name in translation), according to Chinese enterprise information inquiry platform Tianyancha.

The company features an expanded business scope covering technical services, R&D, consultation, exchange, transfer, and promotion, as well as battery sales and goods import and export activities.

Established in May 2024, the company involves a registered capital of 1 billion yuan and is a joint venture among Contemporary Amperex Technology Co., Ltd. (CATL), BAIC Hailanxin Energy Technology (Beijing) Co., Ltd. (called "BAIC Hailanxin" for short), Xiaomi EV Technology Co., Ltd. (Xiaomi EV), and Beijing Jingneng Technology Co., Ltd. (dubbed "Beijing Jingneng Technology" for short). To be specific, BAIC Hailanxin was jointly established by three subsidiaries of BAIC Group, including BAIC BluePark New Energy Technology Co., Ltd. (BAIC BluePark). Beijing Jingneng Technology is a subsidiary of Beijing Energy Holding. Co., Ltd.

In this partnership, CATL holds a 51% stake of the joint venture, BAIC Hailanxin holds a share of 39%, while Beijing Jingneng Technology and Xiaomi EV each hold a stake of 5%.

On June 18, 2024, the Beijing Contemporary Amperex Battery Base project, which is jointly invested by the aforesaid four parties, held its groundbreaking ceremony.

The Beijing Contemporary Amperex Battery Base project is designed to high standards as a "Lighthouse Factory" and a "Zero-Carbon Factory," utilizing CATL's most advanced high-speed, highly automated, and flexible production lines. Once completed, it will provide stable, mass-produced, high-quality battery products to automakers in the Beijing-Tianjin-Hebei region.