CATL and AIWAYS jointly develop EVOGO battery swap project

Recently, CATL and AIWAYS signed a cooperation framework agreement for the EVOGO battery swap project, aiming to jointly develop a combined battery swap model based on AIWAYS U5. The model is expected to be launched in the fourth quarter of 2022, and will provide consumers with vehicle-battery separation, on-demand power distribution, and rechargeable and swappable services. The cooperation will be operated by CATL's subsidiary, Times Electric Services. The two parties will complement each other in technology, resources, services, etc., and jointly promote the development of the battery swap market.