China Changan, Changan Automobile and Tianqi Shares jointly establish a battery recycling joint venture

China Changan plans to jointly invest with Changan Automobile and Tianqi Automation Engineering Co., Ltd. to establish a joint venture focusing on battery recycling, cascade utilization and regeneration. The joint venture will strive to become a leading battery recycling company in China, realize the closed loop of the battery industry chain, and ensure the stability and controllability of material supply.