CATL takes 24.8% equity stake in state-backed heavy truck battery swapping network across China
Contemporary Amperex Technology Co. Limited has acquired a 24.87 percent equity position in state-backed Qiyuan Green Power for 2.556 billion yuan, expanding its commercial vehicle battery swapping footprint.
- 2.556B RMB
- 24.87%
- 1,600+
What Happened
Under signed equity purchase agreements, CATL is committing 2.556597 billion yuan to secure a 24.8726 percent interest in Qiyuan Green Power, an enterprise transaction valuing the charging and swapping business at 10.275 billion yuan.
2.556 billion yuan
Securing 24.8726% shareholder position in commercial logistics network
By late 2025, the target operator maintained more than 1,600 energizing locations spanning 208 prefecture-level administrative municipalities. The acquisition converts CATL into the venture primary equity holder.
CATL will integrate its proprietary Qiji heavy truck battery stations with the acquired infrastructure, accelerating deployment of standardized modular battery swaps across major national freight and mining corridors.
Why this matters
Heavy freight transport in China is rapidly pivoting to standardized chassis swapping to circumvent multi-hour charging bottlenecks at freight hubs. Securing unified network infrastructure allows CATL to anchor its proprietary modular battery pack standards across key industrial transit corridors.
Terms in This Story
- EV
- Electric vehicle, a vehicle powered fully or partly by electricity.
- ICE
- Internal combustion engine, the conventional petrol or diesel engine type.
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