SAIC Motor and CATL signed a joint venture agreement in Nanjing Jiangning Development Zone.

SAIC Motor and CATL's joint venture, SAIC-CATL Power Battery System Co., Ltd., recently signed an agreement in Nanjing Jiangning Development Zone to build a new power battery production base. The base is expected to produce battery systems for 210,000 new energy vehicles annually, with an annual output value exceeding 5 billion yuan upon reaching full capacity.