CATL Joins Hands with Sinopec! Over 500 Battery Swapping Stations to Be Built This Year Recently, CATL and Sinopec signed a cooperation framework agreement in Beijing. According to the agreement, the two parties will comprehensively deepen their long-term strategic cooperative relationship and jointly build a nationwide battery swapping ecosystem network. This year, no less than 500 battery swapping stations will be constructed, with a long-term goal of expanding to 10,000 stations. Yuqun Zeng, Chairman and CEO of CATL, and Yongsheng Ma, Chairman and Party Secretary of Sinopec, along with Hongbo Wang, Chief Investment Officer of CATL, and Dong Zhao, General Manager and Deputy Party Secretary of Sinopec, held discussions and witnessed the signing ceremony together. Previously, CATL and Sinopec had established a good cooperative relationship in the construction and operation of comprehensive energy stations, ESS business, energy products and new materials, and technological innovation. The next step will be to fully leverage their respective advantages and further expand cooperation in the field of battery swapping.