BAIC BluePark joins hands with CATL, Beijing Energy Technology and Xiaomi Motors to establish a joint venture battery cell factory

BAIC BluePark announced that it plans to jointly establish a battery cell joint venture factory with CATL, Beijing Energy Technology and Xiaomi Motors to ensure a stable supply of power batteries. The registered capital of the joint venture is 1 billion yuan, of which CATL will contribute 51%, BAIC BluePark will contribute 39%, and Beijing Energy Technology and Xiaomi Motors will each contribute 5%. The joint venture will invest in the construction of a battery cell intelligent manufacturing factory in Beijing.