Nio’s battery asset operator, Mirattery, has recently formed a strategic partnership with CATL, a well-known Chinese battery company. This collaboration involves equity investment, battery rental service operations, user services, joint construction of battery swap networks, and other key areas. The agreement was signed in Hefei, Anhui province, with representatives from both companies present.
The partnership aims to deepen cooperation in capital, technology, and business models. It also includes collaboration on EV battery technology, innovative technologies, and business model expansion. The ultimate goal is to establish a new cooperation model that promotes synergy between the upstream and downstream sectors of the industry chain.
While specific details of the cooperation were not disclosed, a report in March hinted that CATL was planning to increase its investment in Mirattery. This move aligns with CATL’s strategy to expand its presence in the battery swap business, as evidenced by a previous partnership announcement with Nio to build the world’s largest battery swap service network.
Nio’s involvement in the partnership between Mirattery and CATL is significant, given that Hefei is home to Nio’s manufacturing facilities. The EV maker has been actively promoting its sub-brand Onvo, with recent events indicating a strong presence in the city. Mirattery, on the other hand, is headquartered in Wuhan, while CATL is based in Ningde.
Established in 2020 as a joint venture between CATL, Nio, Guotai Junan, and Hubei Science and Technology Investment, Mirattery manages battery assets used for leasing in Nio’s BaaS (Battery as a Service) business. Over the years, equity changes have resulted in Nio becoming the largest shareholder in Mirattery, with a 19.4 percent stake. CATL and Hubei Science Technology Investment each hold a 10.68 percent stake.
Today, Mirattery announced that it manages over 27 GWh of battery assets, serving more than 350,000 users. The company’s rapid growth and success in the battery rental market highlight the potential of the partnership with CATL and the continued evolution of the EV industry.
