Automotive Sep 11, 2020 02:42 PM (GMT+8) · EqualOcean
"CATL and Changan Automobile to Team up on Intelligent EV Ecosystem China’s biggest battery manufacturer, CATL, and automaker Changan Automobile have announced strategic cooperation which will establish a long-term and in-depth partnership in the fields of intelligent-connected EVs and smart energy ecosystem. Regarding the relationship with CATL, Changan stated in July that CATL occupies a leading position in the upstream battery field of new energy vehicles. In order to ensure its own development, Changan has taken the step of strengthening its cooperation with the company. In 2017, the Chinese automaker invested in CATL by acquiring Zhenjiang Demao Hairun Equity Investment Fund Partnership shares. Changan procured roughly CNY 32.782 billion in the operating revenue for the first half of 2020, a year-on-year increase of 9.73%, according to the company's semi-annual financial results. For the same period, Changan's net profit attributable to shareholders amounted to CNY 2.602 billion, recording an impressive surge from the previous year’s loss of CNY 2.24 billion. According to the company's semi-annual results, the increase in the price of shares in CATL controlled by Changan generated a net profit of CNY 1.78 billion. Changan is firmly advancing the implementation of new energy strategies, in a bid to speed up its transformation from being a traditional automaker to being an intelligent mobility technology and service provider.

This text is a result of machine translation.

Related companies：