Shanghai (ZXZC)- CATL and Golden Concord Limited (Group) Holdings Co., Ltd. ("GCL"), a leading Chinese green and low-carbon technology developer, recently signed an agreement to form an all-around strategic cooperation on technology innovation, product R&D, heavy-duty truck battery swap, battery recycling, and other businesses, GCL announced on Aug. 24 via its WeChat account.

GCL said both parties would jointly research and develop more new business models and application scenarios for their cooperative new energy projects.

GCL's battery swap station for heavy-duty trucks; photo credit: GCL

The duo will conduct technological cooperation and exchange to promote the connectivity of different types of heavy-duty battery swapping stations.

Based on the application scenarios of heavy-duty truck plus energy storage, CATL and GCL will make joint efforts to optimize the lifecycle battery cost and enable the cascade utilization of power batteries in the energy storage field.

Moreover, both parties will proactively explore the innovative collaboration in power battery recycling, aiming to co-build a mobile energy ecosystem.

About one week ago, CATL inked a framework agreement with FAW Group’s commercial vehicle arm, FAW Jiefang, to build a joint venture dedicated to new energy commercial vehicle sales and services.

CATL and FAW Jiefang will pour a total of 500 million yuan ($72.935 million) in the deployment of new energy vehicle after-market operations, offering users three types of services, namely battery swap, vehicle leasing and transport capacity supply, as well as recycling of used cars and batteries, said Hu Hanjie, chairman of FAW Jiefang.