CATL, DiDi’s joint venture incorporated for EV charging, battery swapping businesses

Shanghai (Gasgoo)- On February 18, Contemporary Orange (Xiamen) New Energy Technology Co., Ltd. was established, according to an enterprise query platform Tianyancha. The company focuses on sales of new energy vehicles (NEVs) battery swapping infrastructure, the operation of electric vehicle charging infrastructure, and battery leasing services.

This company is indirectly co-owned by CATL and Beijing Orange Technology Co., Ltd., an affiliate of DiDi.

In January 2024, DiDi and CATL announced their plans to establish a battery swapping joint venture. Under the cooperation, the joint venture would leverage both parties' technological and operational strengths to launch efficient battery swapping services, targeting China's ride-hailing market.

In addition to the joint venture, CATL has formed a strategic cooperation intention with Orange Energy, a subsidiary of DiDi, to promote collaboration in broader new energy sectors, including integrated energy storage and charging solutions.

Orange Energy's business scope spans several areas, including internet-based refueling, smart charging, virtual power plants, and electricity trading.

CATL's Choco-Swap station; photo credit: CATL

CATL has set a clear timetable for the construction of the battery swap network: by 2025, it will build 1,000 Choco-Swap stations and will expand into Hong Kong and Macao. In its mid-term plan, the company will build 10,000 stations together with its partners. As the battery swap ecosystem expands, there will be 30,000 Choco-Swap stations in the future.

Up to now, CATL has been collaborating with several automakers, including Changan Automobile, GAC Group, FAW Group, BAIC Group, and SAIC-GM-Wuling, to construct the Choco-Swap Ecosystem.