CATL to Unveil Battery Swap Brand EVOGO
CATL, a leading Chinese battery firm, has officially confirmed it will hold a launch event for a new battery swap brand called EVOGO on Tuesday at 3:30 p.m. Beijing time.
In a post on popular domestic microblogging platform Weibo, a picture showing CATL’s power exchange station looking somewhat rough was recently exposed. CATL responded on Monday: “This is a test station, which is different from what we will release on Tuesday.”
Late last month, CATL – an abbreviation of Contemporary Amperex Technology Co., Limited – signed an official cooperation agreement with Guizhou province in southwestern China to build a local battery swap network. According to the agreement, the two sides will cooperate in building a network of swap facilities for NEVs, promoting the region’s battery swap capacity, CATL said.
On August 20, 2021, CATL established a subsidiary in Xiamen, Fujian Province, as the main carrier of power exchange business. On December 20, 2021, the subsidiary established a regional power exchange business company in the country’s northeastern province of Jilin.
In addition to broad market prospects, the support of national policies may also be a major reason for CATL’s entering into the power exchange market. At the end of October last year, the General Office of the Ministry of Industry and Information Technology issued a notice, deciding to start the piloting of new energy vehicle power exchange systems in 11 cities across the country including Beijing, Nanjing and Wuhan.
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Domestic carmakers like NIO and BAIC have already launched power exchange stations which can finish the total process in less than three minutes.