Shanghai (ZXZC)- On January 7, Gotion High-tech's wholly-owned subsidiary, Hefei Guoxuan High-tech Power Energy Co., Ltd. (“Hefei Gotion”), inked a strategic cooperation agreement with Chery Automobile. The collaboration aims to extend across both passenger and commercial vehicle segments, jointly exploring opportunities in the new energy vehicle market.

Under the agreement, the collaboration will span Chery's projects, including passenger cars, buses, logistics vehicles, and heavy-duty trucks. Hefei Gotion will serve as a key supplier, actively participating in project development and supply. Chery Automobile, in turn, will introduce advanced battery technologies, such as Gotion High-tech's third-generation battery cells, enhancing cooperation in battery platform standardization, cell consistency and safety, and battery big data.

Photo credit: Gotion High-tech

In addition, in emerging areas like energy storage and electric vessels, the two companies plan to jointly explore innovative business models. Leveraging their respective international market advantages, they also intend to jointly expand overseas new energy vehicle markets. Furthermore, a strengthened collaboration in ESG (Environmental, Social, and Governance) initiatives and carbon reduction will be pursued, aiming to boost brand reputation and market visibility.

The partnership between Gotion High-tech and Chery Automobile dates back to 2012 when they began collaborating on new energy product applications. Noteworthy milestones include the bulk shipment of Gotion batteries to Chery's Karry YoYo in 2018, the formal signing of a strategic cooperation agreement in 2019, and the mass delivery of battery packs for Chery's QQ Ice Cream and other popular models in 2021. In 2022, the collaboration deepened further, witnessing an annual installation exceeding 130,000 vehicles, marking a remarkable growth of over 220% compared to the previous year.

Chery has been accelerating its new energy vehicle strategy in recent years. In 2023, all four major passenger car brands under Chery Holding— Chery, EXEED, JETOUR, and iCAR – had numerous new energy vehicle models hitting the market. Chery Holding's international business was steadily improved last year, with around 937,000 vehicles exported to reflect a robust year-on-year hike of 101.1%.