Overview

• Sinopec and CATL have formalized an agreement to build a nationwide battery swapping network with a long-term goal of 10,000 stations, targeting 500 stations in 2025.
• CATL is in discussions to acquire a controlling stake in Nio Power, which operates over 3,200 battery swap stations across China, as part of broader strategic investments.
• The partnership aims to standardize battery swapping technology and enhance EV infrastructure, addressing range anxiety and improving convenience for EV owners.
• CATL’s shift beyond traditional battery manufacturing reflects its ambition to become a comprehensive green-energy provider, aligning with China's low-carbon transportation goals.
• Nio and CATL have committed to deepening their collaboration to jointly build the largest battery swapping network globally, further consolidating their market leadership.