Shanghai (ZXZC)- On January 26, Chinese ride-hailing giant Didi Chuxing ("DiDi") and leading battery manufacturer CATL officially announced the establishment of a joint venture for battery swapping business in Ningde City, Fujian Province, according to a post on CATL's WeChat account.

This strategic collaboration capitalizes on the technological strengths and operational capabilities of both companies, aiming to provide efficient battery swapping services for a myriad of new energy vehicles, starting with ride-hailing scenarios. The formation of this joint venture marks a significant move for both parties in the public energy replenishment sector, where they intend to lead in industry services and technological standards, thereby enhancing resource utilization and societal operational efficiency, said CATL.

Photo credit: CATL

In addition to the establishment of the battery swapping joint venture, CATL has also expressed a strategic cooperation intention with DiDi's subsidiary, Orange Energy, fostering collaboration in a broader range of new energy areas, such as integrated energy storage and electric vehicle charging solutions.

DiDi has long been committed to increasing vehicle sharing rates and advancing shared rides, sustainable transportation, and intelligent traffic development to facilitate the transformation of transportation vehicles towards electrification. Orange Energy, under DiDi's umbrella, focuses on exploring carbon-neutral solutions in the transportation sector. Its business spans various segments, including internet refueling, smart charging, virtual power plants, power trading, power auxiliary services, and enterprise services. As of the end of December 2023, Orange Energy's charging services have covered over 190 cities, providing charging services over 680 million times.

The public transportation market, characterized by a large user base, frequent energy replenishment needs, and stringent timeliness requirements, stands out as one of the most valuable applications for battery swapping services. With the establishment of the joint venture, both DiDi and CATL will collaborate closely, rapidly deploying battery swapping stations, promoting compatible electric vehicle models, enhancing operational efficiency in the public energy replenishment market, and driving the green transformation of transportation.