CATL (SHE: 300750) has signed an agreement with Chinese mobility services giant Car Inc to accelerate the promotion of vehicles based on its battery swap standard.
CATL, its subsidiary Contemporary Amperex Energy Service Technology (CAES), Car Inc, and CMB Leasing signed a strategic cooperation agreement at the battery maker’s headquarters in Ningde, Fujian province, to introduce the battery swap model into the car rental industry.
Car Inc will introduce models supporting battery swap based on CATL’s Choco-SEB technology, covering mainstream A0 to B-class models ranging from economy, comfort, and business types, according to a CATL announcement today.
The two companies will launch a pilot program this year and gradually operate more than 100,000 vehicles supporting battery swap, CATL said.
These vehicles will use CATL’s standardized #20 and #25 battery swap blocks with a vehicle range of 400-600 kilometers.
Car Inc will purchase these models on a large scale and focus on first-tier and new first-tier cities in China, according to the statement.
CAES will build a battery health monitoring platform to ensure real-time battery safety and range stability.
CATL chairman and CEO Robin Zeng, Car Inc chairman Yu Hongfei, and China Merchants Bank president Wang Liang witnessed the signing, demonstrating their commitment to the partnership. CMB Leasing is a wholly owned subsidiary of China Merchants Bank.
In December 2024, CATL unveiled two standardized Choco-SEB battery packs for passenger vehicles, aiming to accelerate the adoption of battery swap technology in the passenger vehicle sector.
CATL named them #20 and #25, similar to how gasoline is labeled #92, #95, and #98 in China.
The company believes that by 2030, battery swap, home charging, and public charging stations will each meet one-third of EV owners’ energy needs.
CATL will leverage Car Inc’s more than 2,000 offline outlets and parking lot resources in China to jointly build a battery swap network covering core transportation hubs, the company said today.
In addition, CATL’s battery swap stations will prioritize the use of photovoltaic green electricity and participate in grid peak shaving and frequency regulation to help build a new power system, it said.
Car Inc’s mobile app will integrate battery swap station navigation and payment functions to provide a seamless experience.
CMB Leasing and CAES will provide Car Inc’s self-operated vehicles with competitively priced battery rental solutions to reduce vehicle costs and improve operational efficiency, according to the statement.
CATL said that the goal of reaching 1,000 battery swap stations for passenger vehicles by the end of the year is achievable.
