CATL, a leading Chinese battery firm, has officially confirmed it will hold a launch event for a new battery swap brand called EVOGO on Tuesday at 3:30 p.m. Beijing time.
In a post on popular domestic microblogging platform Weibo, a picture showing CATL’s power exchange station looking somewhat rough was recently exposed. CATL responded on Monday: “This is a test station, which is different from what we will release on Tuesday.”
Late last month, CATL – an abbreviation of Contemporary Amperex Technology Co., Limited – signed an official cooperation agreement with Guizhou province in southwestern China to build a local battery swap network. According to the agreement, the two sides will cooperate in building a network of swap facilities for NEVs, promoting the region’s battery swap capacity, CATL said.
On August 20, 2021, CATL established a subsidiary in Xiamen, Fujian Province, as the main carrier of power exchange business. On December 20, 2021, the subsidiary established a regional power exchange business company in the country’s northeastern province of Jilin.
In addition to broad market prospects, the support of national policies may also be a major reason for CATL’s entering into the power exchange market. At the end of October last year, the General Office of the Ministry of Industry and Information Technology issued a notice, deciding to start the piloting of new energy vehicle power exchange systems in 11 cities across the country including Beijing, Nanjing and Wuhan.
Domestic carmakers like NIO and BAIC have already launched power exchange stations which can finish the total process in less than three minutes.