CATL, China’s top electric vehicle (EV) battery manufacturer, has recently finalized the establishment of a new battery-swapping joint venture with Didi Chuxing Technology Company. The joint venture, named Contemporary Orange (Xiamen) New Energy Technology Company Ltd, boasts a registered capital of CNY330m (US$45m), with CATL holding a 70% stake and Didi’s Beijing Orange Technology Company Ltd subsidiary owning the remaining 30%. This collaboration aims to expedite the expansion of a nationwide network for battery swapping.
The primary focus of the new company will be on the sale of battery swapping equipment, operation of EV charging infrastructure, and the sale and leasing of EV batteries. By working in close partnership with CATL’s EVOGO battery swapping subsidiary, the joint venture seeks to enhance the accessibility and convenience of EV charging options for consumers across China.
In a strategic move last December, CATL introduced the Choco-Swap service, featuring two standardized swappable battery designs that are compatible with a wide range of EV models in use within the Chinese market. The company has already secured agreements with major local automakers such as FAW Group, Changan Automobile, GAC Group, BAIC Group, and SAIC-GM-Wuling to standardize swappable EV battery designs.
CATL has set ambitious targets to establish 1,000 battery swapping stations throughout China by the end of the year, with plans to scale up to 10,000 stations by the close of the decade. The collaboration with Didi is expected to play a pivotal role in accelerating the deployment of this extensive network. By the end of 2024, Didi’s Xiaoju Charging platform had connected over 60,000 supercharging piles across approximately 3,300 charging stations nationwide, as reported by local sources.
The partnership between CATL and Didi signifies a significant step towards revolutionizing the EV charging infrastructure in China, making it more efficient and accessible for a growing number of electric vehicle owners. This strategic alliance is poised to drive the adoption of EV technology and contribute to the sustainable transportation ecosystem in the region.
