On March 13th, BAIC GROUP and Contemporary Amperex Technology Co. Limited (CATL) signed a business cooperation and advanced technology strategic cooperation agreement. The two sides plan to jointly develop power battery products and explore the NEV market. 

Jiang Deyi, party secretary and chairman of BAIC GROUP, Zhang Xiyong, general manager, Liu Yu and Hu Hanjun, vice general manager, Chang Rui and Chen Wei, general manager assistant, Zeng Yuqun, chairman of CATL, Han Wei, co-president of market, Zhu Wei, president of domestic passenger vehicle division and CFO Zheng Shu attended the signing ceremony.

According to the agreement, CATL will be deeply integrated into the vehicle development and production of the self-owned NEV enterprises under BAIC GROUP, and provide competitive power battery products and services. BAIC GROUP will build a closer strategic partnership with CATL to carry out comprehensive cooperation in power batteries.

At present, the global automobile industry is facing the transformation of electrification and intelligentization. As the main force behind this profound transformation, China's NEV industry has ranked first in the world for many years in terms of the volume of vehicle production and sales, the scale of the power battery industry, and the number of charging infrastructure. Among them, power battery industry as an important part of the green industry, in the global background of "peak carbon dioxide emissions, carbon neutrality", ushered in unprecedented development opportunities.

As a pioneer in the domestic NEV industry, BAIC GROUP has been adhering to the concept of independent innovation in the field of NEV, and constantly innovating. CATL is a leading enterprise in China's NEV battery industry, and its core technologies and products have extensive influence in the international market. The cooperation of BAIC GROUP and CATL combines the technology and market advantages of BAIC GROUP with the core technology and product advantages of CATL, will surely inject new vitality into the vigorous development of China's NEV industry.

The cooperation between BAIC GROUP and CATL can be traced back to 2010. Over the past 13 years, the cooperation between the two sides has been continuously strengthened, with deeper cooperation in supply, technology development, standard setting, after-sales service, and other aspects. A series of high-level and deeply integrated cooperation results have led the development of China's automobile industry. The signing of the strategic cooperation agreement on business cooperation and advanced technology will further deepen bilateral cooperation and provide broader space and abundant impetus for the strategic expansion of both sides.