CATL, Chery Holding begin all-around strategic cooperation

Shanghai (Gasgoo)- CATL and Chery Holding Group signed a framework agreement on Dec. 14 to carry out all-around strategic cooperation on such fields as products, business affairs, marketing promotion, and business information resources, according to a post on CATL's WeChat account.

Under the agreement, the two companies will continue the collaboration on passenger vehicle battery supply and relevant technologies. In addition, the duo will jointly explore areas like public transportation, battery swapping, and the integration of batteries, electric motors and electric control units in such domains as bus, logistics vehicle, heavy-duty truck, and electric ship.

Photo credit: CATL

The new agreement signing marks the official commencement of the all-around strategic cooperation between CATL and Chery Holding, said CATL. Through the partnership, both parties will make full use of their respective resources and advantages to co-explore the domestic and foreign new energy vehicle (NEV) market, said CATL.

Notably, CATL has joined the lineup of Chery Holding's shareholders. According to the corporate information inquiry platform Tianyancha, Chery Holding recently introduced Ningbo Meishan Bonded Port Area Wending Investment Co., Ltd. as one of its shareholders. Taking 3.73% stake in Chery Holding, the new investor is a wholly-owned subsidiary of CATL.

For the first eleven months of 2022, Chery Holding sold 1,127,289 vehicles in total, representing a year-on-year jump of 32.6%. Its Jan.-Nov. NEV sales rocketed 147.9% from a year ago to 220,918 units.