[SMM Analysis] CATL and Shouqi Group Sign Strategic Cooperation Agreement - Involving Battery Recycling

On September 25, CATL and Shouqi Group signed a strategic cooperation agreement. The two parties will promote vehicle electrification transformation, after-sales services, waste battery recycling, and the layout of charging and battery swapping facilities in areas such as automobile passenger transport, car rental, automotive services, and automotive energy supply. Centered around the national "dual carbon" goals, they aim to accelerate the creation of a "new model" for the new energy transformation and development of travel services.

With the vigorous development of the NEV industry, battery recycling has evolved from an environmental protection issue into a vast commercial blue ocean. Battery recycling is not only a step for handling waste but also a key to ensuring resource security and achieving sustainable industrial development.

The cooperation between CATL and Shouqi Group establishes a full life cycle management model.

According to the agreement, the two parties will focus on the national "dual carbon" goals to create a "new model" for the new energy transformation and development of travel services. As a comprehensive automotive travel service provider, Shouqi Group operates diverse travel service scenarios, including "Shouqi Ride-hailing, Shouqi Car Rental, and Shouqi Car-sharing."

This means that CATL is not only a battery supplier but will also become the preferred brand for Shouqi Group's new energy power batteries in the travel industry, undertaking full-chain responsibility from battery supply to recycling and reuse.

This cooperation model enables the sharing and traceability of battery data, establishing a "digital ID" for each battery, which greatly enhances the efficiency and safety of subsequent recycling and reuse.