BAIC Group and CATL have inked a comprehensive cooperation agreement to deepen their collaboration in the battery swap sector, with key leaders from both entities present at the signing ceremony. The two parties are set to enhance their collaboration across the entire value chain, encompassing vehicle and battery R&D, the establishment of battery swap station networks, the promotion of battery energy service products, and the innovation of business models.

Together, they aim to standardize industry norms for battery swapping, facilitate network interoperability and resource sharing, construct a robust battery swap industry ecosystem, and popularize battery swap technology on a wider scale. BAIC Group will facilitate the seamless integration of multiple brand models under its portfolio into CATL's Chocolate Battery Swap Ecosystem, while also granting access to its extensive dealer network.

Capitalizing on their respective strengths, the duo will collaborate to establish a nationwide, efficient, and interconnected public energy replenishment network. They will explore a co-construction and joint-operation model for battery swap stations, foster the professional integration of battery swap assets, and boost overall industrial efficiency. This partnership signifies a pivotal step forward in the standardization, asset interoperability, and resource sharing within China's new energy vehicle battery swap industry. It is poised to jointly propel the high-quality development of China's new energy vehicle sector to new heights.