Market Chatter: CATL Plans Joint Development of 10 EV Models With Swappable Batteries

MT Newswires Live2024-12-19

Contemporary Amperex Technology (SHE:300750), or CATL, is planning to develop 10 new electric vehicle models with swappable batteries, the South China Morning Post reported Wednesday.

The EV models will be jointly developed with partners such as Changan Automobile (SHE:000625) and FAW Group (SHE:000800), according to the report.

CATL is also planning to build 1,000 battery swap stations in 2025 to ease range anxiety among Chinese drivers, the SCMP wrote.

"CATL will promote the standardization of battery swaps and use two standard battery swap blocks, named No. 20 and No. 25, to provide users with personalized services of on-demand power distribution through different power levels," the EV battery producer said on Weibo.

CATL said it plans to build 30,000 battery swap stations in the future, but did not provide a specific time frame, according to SCMP.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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