CATL, Changan Auto’s joint venture established for battery production, sales

Shanghai (Gasgoo)- According to Qichacha, a Chinese corporate database, CATL Changan Power Battery Co., Ltd. (referred to as “CATL Changan”) was incorporated on Jun. 28 with a registered capital of 1.5 billion yuan.

Qichacha’s information shows that CATL Changan's business scope includes battery manufacturing, battery sales, R&D of emerging energy technologies and new materials, etc. The company is jointly owned by CATL, Shenlan Technology Co., Ltd. (the entity behind the Deepal brand), and Changan Automobile.

The joint venture is registered in Yibin city, Sichuan province.

UNI-K iDD; photo credit: Changan Auto

As early as Feb. this year, Changan Automobile announced its intention to jointly establish a battery joint venture company with Chongqing Changan New Energy Automobile Technology Co., Ltd. (referred to as "Changan New Energy") and CATL.

At that time, the announcement stated that the registered capital of the joint venture company was 1.5 billion yuan, with Changan Automobile contributing 285 million yuan, accounting for 19%; Changan New Energy contributing 450 million yuan, accounting for 30%, and CATL contributing 765 million yuan, accounting for 51%.

According to Changan Automobile's plan, it will rapidly advance the development of the new energy vehicle (NEV) sector in the future, with the goal of achieving 1.2 million units of NEV sales, accounting for 40% of its total sales by 2025. By 2030, the target is set at 2.4 million units, accounting for 60% of its overall annual sales.

In terms of product introduction plan, by 2025, the Changan brand will launch 27 new NEV models. To be specific, six will be under the brand of the Deepal brand including the Deepal S7, four will come from the the Avatr brand, five will be from the iDD series, five will be contributed by the Changan Qiyuan sequence, and seven will be under the umbrella of Cakc Auto including intelligent logistics vehicles and electric pickups.