China’s CATL, Sinopec plan to build 10,000 battery swap stations

Published 04/02/2025, 02:39 AM
Updated 04/02/2025, 02:41 AM
© Reuters. FILE PHOTO: A sign of battery manufacturer CATL is pictured at its booth the Beijing International Automotive Exhibition, or Auto China 2024, in Beijing, China, April 25, 2024. REUTERS/Tingshu Wang/File Photo

BEIJING (Reuters) - Chinese electric vehicle battery giant CATL said on Wednesday that it will partner with state-owned oil giant Sinopec (OTC:SHIIY) to build 10,000 battery swap stations.

As part of a strategic deal signed in Beijing, the two companies will build at least 500 battery swap stations this year, according to a company statement, which did not give a timeline to set up these stations.

The partnership will be based on CATL’s "choco-swap" battery swapping and Qiji chassis battery-swapping solution to "break through the driving range bottlenecks of passenger vehicles and heavy-duty trucks," per the statement.

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