Shanghai (ZXZC)- On March 13, Greater Bay Technology (“GBT”), a supercharging technology developer incubated by GAC Group, signed a strategic cooperation agreement with Apollo Future Mobility Group Limited (“AFMG”), an HK-listed smart mobility solution provider, according to a post on GBT’s WeChat account.

Photo credit: GBT

Under the agreement, the two parties will focus on the development and application of the XFC (eXtreme Fast Charging) battery system with GBT serving as the core strategic supplier to AFMG. The duo will team up on promoting the installation and application of GBT’s XFC battery system on AFMG’s first luxury intelligent all-electric vehicle model, which is scheduled for volume production in 2024.

Additionally, AFMG will work with GBT to boost the rapid development of the XFC ultrafast charging technology in the luxury intelligent full-electric passenger vehicle market.

What’s more, with Shanghai as a pilot operation site, the two companies intend to deploy the XFC fast charging stations in Beijing, Shanghai, Guangzhou, and Shenzhen, and bolster the sharing of charging pile resources to promote interconnectivity between their respective charging networks.

AFMG announced its foray into the field of luxury intelligent full-electric passenger vehicles in Aug. last year.

In Jan. 2023, a wholly-owned subsidiary of AFMG entered into an agreement the Chinese electric vehicle startup WM Motor Holdings Limited ("WM Motor") to conditionally agree to buy shares from the latter. The target company to be acquired is WM Motor Global Investment Limited, a direct wholly-owned subsidiary of WM Motor.