SAIC Motor and CATL cooperate to develop vehicle-battery separation business to promote the development of electric vehicle industry

SAIC and CATL plan to cooperate in the vehicle-battery separation business. SAIC will develop and sell battery-swap models; CATL and its affiliates will provide standard battery-swap batteries and provide battery sales, battery leasing and battery-swap services for battery-swap models. This move is expected to reduce the cost of using electric vehicles and further promote the rapid development of the electric vehicle industry.