Recently, CATL, TimesEV, China Auto Rental, and CMB Financial Leasing have formally concluded a strategic cooperation agreement, heralding a new era of collaboration in advancing the new energy and intelligent transformation of the car rental industry. At the heart of this partnership lies the ambitious goal of introducing the battery swapping model on a grand scale within the car rental sector. China Auto Rental will integrate CATL's innovative "Chocolate" standard battery swapping models across a diverse range of vehicle types, catering to the mainstream market demands.

By 2025, an initial pilot project will commence, progressively expanding to deploy over 100,000 battery swapping vehicles. This extensive fleet will cater to the multifaceted needs of short-term and long-term rentals, corporate car services, and online ride-hailing platforms. Through this profound synergy, the four entities aspire to offer sustainable energy solutions and collectively construct a holistic ecosystem encompassing the entire mobile travel value chain.