On April 2, Sinopec and CATL inked a cooperation framework agreement in Beijing. This agreement solidifies their long-term strategic partnership through a dual approach of "industrial and capital cooperation," fostering a national battery swap network ecosystem complete with standardized practices for the unified management and operation of battery swap assets. Per the agreement, at least 500 battery swap stations will be established this year, with an ambitious target of reaching 10,000 in the future. This initiative seeks to accelerate the development of China's new infrastructure for battery swap stations, offering new energy vehicle owners more efficient and convenient energy solutions. Sinopec brings its extensive nationwide network of energy stations, while CATL contributes its expertise in battery technology and the research and development of battery swap systems. Together, they will harness their complementary strengths to propel the construction and operation of battery swap stations forward.