CATL’s new investment lays the foundation for its swap station project, which is expected to build over 30 stations by the end of this year. It is also another component of CATL’s new energy battery industry cluster in Xiamen
CATL announced recently that it plans to invest no more than CNY 13 billion (USD 1.97 billion) in a new energy battery industry base in the southeastern Chinese city of Xiamen.
Each phase in the project, known as Xiamen Contemporary New Energy Battery Industry Base, is expected to take no more than 26 months from the beginning of construction. The project sits on a planned area of about 1,900 mu, or 126 hectares, and seeks to build a production line for power battery systems and energy storage systems.
On April 18, CATL announced that Xiamen became the first city to launch its EVOGO swapping service. EVOGO is operated by CATL Electronics Technology Co., LTD., a wholly-owned subsidiary of CATL in Xiamen. CATL is expected to complete the investment and construction of 30 quick-swap stations in Xiamen by the end of this year.
CATL is increasingly making moves to build a more complete new energy battery industry chain in recent years. It has successively established Xiamen Poweramp Technology Ltd. and Contemporary Electric Service Ltd.
On November 19 last year, CATL and Xiamen University jointly founded Xiamen Contemporary New Energy Research Institute. On December 19 last year, CATL’s Contemporary New Lithium-ion Battery Project broke ground in Xiamen.
The project has a total investment of CNY 7 billion (USD 1,06 billion） and a total construction area of about 710,000 square meters. It plans to build a new lithium-ion battery power battery production base. On March 24 this year, Xiamen Contemporary New Energy Technology Co., Ltd. was incorporated with a registered capital of CNY 2 billion (USD 302 million).
Industry insiders said that through CATL’s continuous investment in Xiamen, the city will boast a new energy battery industry cluster, underscoring its role as an important frontier in China’s new energy industry.