Shanghai, June 23, ZXZC - On June 19th, SAIC and the world-leading lithium battery manufacturer CATL started a foundation ceremony to establish two joint-venture companies SAIC CATL and CATL SAIC.

Different from other joint venture companies, the two sides in joint venture companies are balanced in strengths, with CATL engaging in the development, production, sales and after-sales services of lithium batteries and SAIC targeting at the developments, production and sales of power batteries and systems.

The two joint ventures cover the whole chains of power battery and module system development, showing great ambition in seizing market shares in the market and targeting at the world leader Tesla.

It can be predicted the market will be shocked by the two companies’ cooperation. The two Chinese domestic companies will burden hope for the future of Chinese national auto industry, setting up flags for Chinese alternative energy vehicle companies across the globe.