CATL and Alibaba Participates in Series A of SAIC Mobility

On December 15, 2020, CATL and Ali Group participated in the series A financing activity of SAIC Mobility. It is estimated that the total amount of round financing will reach CNY 300 million. Founded at the end of 2018, SAIC Mobility is a professional brand invested by SAIC Group focusing on travel services. This company is an important part of SAIC Group's "new four modernizations" plan (electrification, intelligent networking, sharing, and internationalization). As a strategic brand of SAIC Group, SAIC Mobility makes full use of the parent company's scale advantages creating a professional Internet special vehicle travel service platform.

 Recently, SAIC Group, CATL, and Alibaba have also reached cooperation on the creation of a high-end intelligent EV brand, Zhiji Auto. On November 26, SAIC Group, Pudong Development Area of Shanghai, and Alibaba Group jointly built the high-end intelligent EV brand. The new-formed company is the first intelligent EV company that has over CNY 10 billion angel-round funding in China. Meanwhile, Zhiji Auto and CATL plan to develop "silicon doped lithium battery cell" technology together. A person familiar with the matter said the battery could get over 1,000 kilometers in-between charges.