China’s leading electric vehicle (EV) battery manufacturer Contemporary Amperex Technology Company Limited (CATL) has completed the establishment of a new battery-swapping joint venture with local ride-hailing company Didi Chuxing Technology Company, as it looks to accelerate the expansion of its network nationwide.
Called Contemporary Orange (Xiamen) New Energy Technology Company Ltd, the new joint venture has a registered capital of CNY330m (US$45m) – with CATL holding 70% and Didi’s Beijing Orange Technology Company Ltd subsidiary the remaining 30%. The new company will be focused on selling battery swapping equipment, operating EV charging infrastructure, selling and leasing EV batteries. It will work closely with CATL’s EVOGO battery swapping subsidiary.
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Last December CATL stepped up its battery aftermarket business with the launch of the Choco-Swap service, based on an initial two standardized swappable battery designs compatible with a growing number of EV models in use in China. The company already has agreements in place with a number of local automakers, including FAW Group, Changan Automobile, GAC Group, BAIC Group, and SAIC-GM-Wuling, to standardize swappable EV battery designs.
CATL aims to have 1,000 battery swapping stations in place across China by the end of the year, rising to 10,000 units by the end of the decade. The joint venture with Didi is expected to help accelerate the roll-out of the network. At the end of 2024, the Didi’s Xiaoju Charging platform was connected more than 60,000 supercharging piles within some 3,300 charging stations across China, according to local reports.
