Chinese battery giant CATL and EV maker NIO have signed a five-year strategic cooperation agreement to develop battery technology, swapping network resources and global market share.

On the technology front, the companies will focus on jointly developing batteries that have long cycle life, as well as battery swapping technologies.

CATL and NIO will also jointly promote the formulation of battery swapping technology standards and the sharing of battery swapping network resources. They intend to deepen their collaboration under business models such as battery leasing, and work together to build an open and shared battery swapping industry ecosystem.

CATL recently deployed its 1,325th battery swapping station in China, and plans to reach more than 3,000 by the end of 2026.

As they look to expand market share, the companies will aim to strengthen joint brand promotion in domestic and international markets.

“Through a structured and long-term cooperation framework, the two companies will jointly address industry changes and provide users with a safer, more efficient and more sustainable electric mobility experience,” CATL stated.

Source: CATL