On November 22nd, the signing ceremony for the tripartite cooperation agreement between CATL, Changan Auto, and CAES on battery swapping project cooperation was held in Chongqing. It was announced that the Changan Auchan 520, the first EV model powered by the new generation of Choco-Swap battery block, and the new generation of the "Choco-Swap stations" , will go into mass production simultaneously. 

Besides that, a strategic cooperation framework agreement was signed between CAES and Sinopec's Chongqing Branch on the same day, according to which both parties will establish in-depth cooperation in the construction and operation of battery swap stations, market expansion, and branding initiatives. 

After the event, representatives of local taxi and ride-hailing companies observed the battery swapping system in operation, which offers a driving range of 500 km range with a 2-minute battery swap time. Compared to refueling, the battery swapping solution enables users to save time, and reduces the overall total cost of vehicle ownership, addressing the challenges faced by electric vehicles in terms of driving mileage, charging, and vehicle costs. 

The event marks that CATL and Changan Auto have taken a solid step to promote complementary advantages and win-win cooperation in the field of battery swapping. Looking ahead, the two sides will jointly develop a battery swapping ecosystem that is safe, efficient, economical and green to ensure users can enjoy better battery swapping services and convenient electric mobility.