Wuhan Weien Energy and CATL Sign Strategic Cooperation Agreement

On July 11, Wuhan Weien Battery Assets Co., Ltd. (referred to as 'Weien') signed a strategic cooperation agreement with Contemporary Amperex Technology Co., Limited (CATL). Both parties will leverage their respective advantages in battery asset management, battery technology innovation, and other areas to deepen cooperation across multiple dimensions including capital, technology, and business models, working together to promote the advancement of the new energy industry. This strategic cooperation encompasses various fields such as equity investment, operation of power battery rental services, user services, shared construction of battery swap networks, recycling of power battery resources, collaboration on battery application technologies for new energy vehicles, and the expansion of other innovative technologies and business models, creating a new cooperation paradigm for collaborative innovation across the new energy industry chain. Notably, back in March, CATL had already signed a strategic cooperation agreement with NIO, with both parties aiming to build the world's largest battery swap network and unify industry technical standards, leading the new energy vehicle industry into a new stage of high-quality development. At that time, CATL was advancing a strategic investment of no more than 2.5 billion RMB in NIO, further solidifying their strategic partnership, and reports indicated additional investments in NIO-related battery asset companies, including Wuhan Weien. The recent agreement between Weien and CATL is a further realization of their prior cooperation. After nearly five years of rapid development, Weien has surpassed 27 GWh in battery asset operations and served over 350,000 users, contributing energy to activate the vitality of the entire industry chain through comprehensive lifecycle management of power battery assets. CATL continues to expand in the battery swap sector, collaborating with upstream and downstream partners to create an innovative and efficient battery swapping ecosystem, establishing a closed-loop lifecycle from battery research and development to material recycling. According to the battery swap station construction timetable previously provided by CATL, they plan to construct 1,000 chocolate swap stations by 2025 and expand into Hong Kong and Macau. In their mid-term plan, they aim to collaborate with various partners to build 10,000 stations, and as the battery swap ecosystem grows, the total number of swap stations is expected to reach 30,000 through community collaboration.