CATL and BAIC to build battery-swap network for 1 million cars

CATL and Beijing Automotive Group (BAIC) will jointly develop a battery-swapping system aimed at servicing 1 million vehicles. For CATL, the network is a way to grow a long-term revenue stream.

• CATL and BAIC will jointly develop a battery-swapping system
• The network targets servicing 1 million electric vehicles
• CATL sees battery swapping as a long-term revenue stream