CATL, Ant Group, Hello Inc. form strategic alliance to drive smart mobility, digital tech R&D, green operations & investment

Shanghai (Gasgoo)- On April 10, CATL, Ant Group, and Hello Inc. signed a strategic cooperation agreement, aiming to integrate their core strengths in digital technology, new energy vehicle innovation, and shared mobility ecosystems, according to a post on CATL's WeChat account.

Photo credit: CATL

The collaboration will focus on four key areas: smart and sustainable mobility, digital technology, green operations, and green investment, with the goal of accelerating the intelligent upgrade of the new energy vehicle industry and building a robust green ecosystem.

At the heart of this partnership is a joint effort to develop intelligent green mobility solutions. The three companies plan to cooperate deeply on intelligent driving technologies, the construction of integrated service platforms for new energy vehicle mobility, and the development of aftermarket service systems for new energy vehicle batteries.

The alliance also includes plans to promote application development and commercial implementation in key sectors, potentially through the formation of a joint venture.

The announcement comes after CATL released its 2024 annual report in mid-March. Despite a 9.7% year-on-year decline in revenue to 362.013 billion yuan, the company recorded a 15.01% year-on-year increase in net profit attributable to shareholders, reaching 50.745 billion yuan.

CATL attributed the drop in revenue to lower product prices, which were adjusted in response to a sharp decline in raw material costs such as lithium carbonate, despite continued growth in battery sales. The rise in net profit was driven by ongoing improvements in R&D, product competitiveness, cost control, and operational efficiency.